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17ANNUAL
REPORT
The mission of the Lehigh Valley Economic Development Corporation is to market the economic assets
of the Lehigh Valley and to create partnerships to lead the recruitment, growth, and retention of employers.
LVEDC ANNUAL REPORT • 2017 3
2017 marked my first year as Chair of the LVEDC Board,
and I’m pleased to say the organization has a clear
vision for continued economic growth and opportunity
in the Lehigh Valley. LVEDC has been reaccredited
by the International Economic Development Council,
and has experienced another record-breaking year in
investment; in fact, our best yet. We are well poised to
continue building on the excellent work LVEDC’s staff
and partners have done over the years.
In December 2017, LVEDC’s Board approved a new
three-year strategic plan to establish the organization’s
priorities and initiatives as it continues its work to advance
the region’s economic growth and job creation through
2020. The plan is the result of a comprehensive process
that included outside consultants, key stakeholders in
the Lehigh Valley, and LVEDC’s staff and Board.
LVEDC is also embarking on several other important
initiatives, including a much-anticipated talent supply
initiative and study.
This initiative has the goal of gaining a useable
understanding of the Valley’s workforce – and providing
a framework for regularly updating that data in this rapidly
evolving sector – for the benefit of the Lehigh Valley’s
employers, educators, and regional partners.
It’s been a real pleasure to work with so many talented
professionals in both the public and private sectors, all
with the same goal of growing our region. I’d like to thank
all of LVEDC’s many stakeholders for their continued
support, and especially our many investors for making
this a great year.
The Lehigh Valley saw another year of historic economic growth in 2017, which speaks to the remarkable diversity
among our various economic sectors, a sign of a well-balanced and multifaceted economy.
The region’s gross domestic product has surpassed the $39 billion mark for the first time in its history. That’s more
economic output from the two-county region of 665,000 people than the entire states of Vermont or Wyoming, as
well as 108 other countries in the world. And while transportation and warehousing is our fastest-growing sector,
manufacturing still makes up a significantly larger portion of our GDP, contributing $6.9 billion, or nearly 18 percent
of the total.
We’ve tracked 31 business attraction/expansion projects either announced, under construction, or completed in the
Lehigh Valley in 2017, creating more than 2,200 jobs and retaining more than 1,300. LVEDC also provided access to
$17.2 million in financing in 2017, resulting in another 810 jobs either created or retained.
I’d like to thank the LVEDC Board of Directors and everyone who has played a part in helping LVEDC deliver on its
mission of growing opportunity and creating jobs in the Lehigh Valley.
Jane P. Long
Board Chair
Don Cunningham
President & CEO
LVEDC ANNUAL REPORT • 201744
Source: U.S. Census Bureau 2016, American Community Survey One-Year Estimates
Source: JobsEQ. This table does not include other industries that make up less than 3 percent of the total
percentage of the labor force, including Wholesale Trade; Management of Companies; Public Administration;
Arts, Entertainment, and Recreation; Information; Real Estate; Utilities; Agriculture, Forestry, Fishing, and
Hunting; Mining and Quarrying.
TOTAL
POPULATION 665,441 TOTAL
HOUSEHOLDS248,182
Unemployment
Rate*
4.9%
2,224
Jobs Created
by 2017 Business
Development
Projects
1,357
Jobs Retained
by 2017 Business
Development
Projects
810
Jobs Created
or Retained
by 2017 LVEDC
Financing
Projects
Source: LVEDC Research Department.
These job figures are projections, and
some jobs will be created over the course
of multiple years.
Health Care &
Social Assistance
Retail
Manufacturing
Transportation
& Warehousing
Accommodation
& Food Service
Education
Administrative &
Support Services
Construction
Professional, Scientific &
Technical Services
Finance & Insurance 10,111
12,572
13,488
23,880
25,166
26,597
27,832
32,388
34,380
55,830 17.4%
10.7%
10.1%
8.7%
8.3%
7.9%
7.4%
4.2%
3.9%
3.2%
Employment by Industry:
Labor
Force
344,623
Median
Household Income
$59,989
Per Capita
Income
$30,270
Source: JobsEQ. *December 2017, seasonally adjusted.
LVEDC ANNUAL REPORT • 2017 5
Lehigh Valley GDP Reaches Record-High $39.1 Billion
The Lehigh Valley’s gross domestic product (GDP) has once again reached an all-time high, rising to $39.1 billion. That is a more
than 4 percent increase over the previous year, which itself had been a record-high number. The regional GDP saw year-over-year
growth in each individual subsector, reflecting the remarkable diversity of the Lehigh Valley’s economic sectors, a sign of a well-
balanced economy. The region’s GDP is now larger than that of Wyoming ($38.5 billion) and Vermont ($31.5 billion), as well as
108 other countries in the world.
* Data comes from the U.S. Department of Commerce’s Bureau of Economic Analysis (BEA). Gross domestic product (GDP) is the measurement of a country’s economic output. It
is the total market value of all finished goods and services produced within a country’s borders in a given year. It includes all consumer, investment and government spending and
exports, minus the value of imports. The $39.1 billion figure is for 2016, the most recent year for which data is available. Data on the GDP of other countries comes from the World Bank.
$5.3B
$5.3B
$2.3B
$1.6B
$1.9B
Education & Health Care
Professional & Business Services
Retail Trade
Transportation
& Warehousing
Information
Arts, Accommodation & Food Service
+$0.24B
+$0.21B
+$0.08B
+$0.08B
+$0.03B
$7.9B
Finance, Insurance & Real Estate
+$0.44B
$6.9B
Manufacturing
+$0.18B
$1.9B
+$0.16B
Lehigh Valley GDP by Industry Sector:
Source: U.S. Bureau of Economic Analysis (BEA). The numbers above do not include government spending or other private
industry subsectors for which data was unavailable or not disclosed by the BEA.
The Lehigh Valley GDP ranks 65th out of the 382 largest metros in the United States, compared to ranking
73rd the previous year. If the Lehigh Valley were a country, it would be the 87th largest country in the world.
Fastest-growing sector in the
regional economy, with a
9.5 percent growth year-over-year.
LVEDC ANNUAL REPORT • 20176
* The number of projects listed is determined by Site Selection for its rankings. The magazine does not disclose which projects it has identified, nor how the magazine reached that figure.
LVEDC previously tracked 31 business attraction, expansion and retention projects for the year 2016, resulting in the creation of 4,832 new jobs and the retention of 2,205 more. Published
by Conway Data, Site Selection is the oldest publication in the corporate real estate and economic development field. It is the official publication of the Industrial Asset Management
Council, and has circulation base of about 44,000 executives involved in corporate site selection decisions.
Lehigh Valley Ranks Among Top Five in Site Selection Magazine
The Lehigh Valley was ranked one of the top five overall regions in the Northeastern United States in terms of economic
development for 2016, and the number one region of its population size in the Northeast, according to Site Selection magazine. It
was the only region in the population range between 200,000 and 1 million to make the top five. Site Selection is one of the highest-
read and most well-respected economic development publications in the country, with a readership of power brokers who make
major economic development decisions. For the magazine to recognize the region’s growth is a remarkable accomplishment.
The Lehigh Valley’s lead among
same-sized Northeast regions
was substantial, with nearly
double the amount of projects
as the next region in the list
(Bridgeport-Stamford-Norfolk).
1. New York-Newark-Jersey City 160

2. Philadelphia-Camden-Wilmington 74

3. Pittsburgh 70

4. Boston-Cambridge-Newton 45

5. Lehigh Valley 26

6. Providence-Warwick 21

2016 Top Metros Overall (Northeast) Total Projects by Region
7. Buffalo-Cheektowaga-Niagara Falls 18

8. Bridgeport-Stamford-Norwalk 14

9. York-Hanover 13

10T. Youngstown-Warren-Boardman 9
10T. Harrisburg-Carlisle 9
10T. Lancaster 9
LVEDC ANNUAL REPORT • 2017 7LVEDC ANNUAL REPORT • 2017 7
Lehigh Valley Featured in American Airlines In-Flight Magazine
American Airlines, the largest airline in the world, serves nearly 200 million passengers
a year. In July 2017, as those passengers settled into their seats and picked up their
in-flight magazines, they read all about the Lehigh Valley.
The region was the subject of a 24-page dedicated supplement in American Way, the
most read in-flight magazine in the world, highlighting the Lehigh Valley for millions of
readers on an international platform bestowed on only a select few regions each year.
The supplement feature, called Spotlight Lehigh Valley, is an economic development
series that takes a detailed look at what makes a certain region a great place to invest,
visit, or relocate, with a particular focus on global economic impact, business diversity,
and innovation. Spotlight Lehigh Valley was unveiled for the first time
during a June 28 launch party at the Lehigh Valley
International Airport.
American Airlines offers 6,700
flights daily to 350 destinations
in 50 countries.
The Lehigh Valley feature in
American Way reached 5.4 million
unique monthly readers and at
least 16 million passengers in all.
American Way readership is the
third-highest measured in the
nation for household income,
and in the Top 10 for professional
managerial, top-nine job titles,
and C-suite executives.
LVEDC ANNUAL REPORT • 20178 LVEDC ANNUAL REPORT • 20178
“This strategic plan presents a clear vision for continued economic growth and opportunity in
the Lehigh Valley, and puts LVEDC in the best possible position to continue building on the
excellent work its staff and partners have done over the past three years.”
-- Jane Long, Chair of the LVEDC Board of Directors
Visit lehighvalley.org/strategic-plan to download the full LVEDC 2017-2020 Strategic Plan.
LVEDC Releases New Three-Year Strategic Plan
LVEDC has completed a new 2017-2020 Strategic Plan that establishes the organization’s priorities and initiatives as it continues
its work to advance the region’s economic growth and job creation over the next three years. The new plan, which received its final
approval from the LVEDC Board of Directors in November 2017, is the result of a comprehensive process that has included outside
consultants, key stakeholder organizations in the Lehigh Valley, and the LVEDC staff and board.
The LVEDC 2017-2020 Strategic Plan
includes an updated mission, vision,
values, principles, priorities, and
four sets of initiatives in the areas of:
•	Recruitment
•	Marketing & Communications
•	Advocacy & Leadership
•	Retention, Resources, & Regional Strategies
LVEDC ANNUAL REPORT • 2017 9
Lehigh Valley Featured
on Front Page of
The New York Times
The Lehigh Valley’s booming logistics
ande-commercesectorwasthefocus
of a front-page article in The New
York Times, which touted the region’s
central location, strong workforce,
and well-developed transportation
infrastructure. Headlined “Where
Internet Orders Mean Real Jobs,
and New Life for Communities,” the
Oct. 23, 2017 story notes that the
region “provides a gateway to the
nation’s biggest metropolitan area”
due to its proximity to highways and
easy access to much of the Eastern
Seaboard. LVEDC assisted Times
writer Natalie Kitroeff during her
reporting for the story.
1
2
74
6
3
5
8
9 10
PA I-78/81
Corridor
“Living here in the Lehigh Valley, it’s easy to forget that this region is one
of the fastest growing industrial markets in the country. It’s growing faster
than the inland empires in Texas and California, and is the most desirable
market in the Northeast.”
– Don Cunningham, LVEDC President & CEO
The 10 Fastest Growing Markets
1 Seattle 16.9%
2 PA I-78/81 Corridor 10.0%
3 Leeds/Sheffield 9.5%
4 Oakland 9.4%
5 Manchester/Liverpool 9.3%
6 LA/Orange County 9.2%
7 Atlanta 9.2%
8 Suzhou 8.7%
9 Hangzhou 7.4%
10 Ningbo 7.2%
]
Source: CBRE Research, Q1 2017. (Annual percent change in prime logistics rents as of Q1 2017)
Lehigh Valley Ranks Second Globally in Industrial Growth
The Lehigh Valley market has ranked second globally for growth in prime industrial
and logistics rents, according to a study by CBRE. This is another sign that the region
is one of the fastest growing industrial markets in the country. The Lehigh Valley
saw a 10 percent jump in prime logistics rents over the past year, according to the
study. Only Seattle had a higher jump (16.9 percent). The Lehigh Valley benefits from
strong demand due in part to its close proximity to major population centers, such as
New York City and Philadelphia, according to a study by CBRE, the world’s largest
commercial real estate services and investment firm.
LVEDC ANNUAL REPORT • 201710
Company Municipality Product
New or
Expansion Stage Type Investment *
New Jobs
Created*
Jobs
Retained*
Square
Feet
Lehigh County
1 B Braun Medical Hanover Twp Medical instrument mfg. Expansion Under Construction MFG $10,000,000 400 14,100
2 City Center 520 Hamilton Allentown Multi-tenant office building New Under Construction Office 95,000
3 City Center Tower 6 Allentown Multi-tenant office building New Under Construction Office $45,000,000 142,000
4 East Penn Manufacturing Alburtis Automobile parts mfg. New Completed MFG 650,000
5 Five City Center
Innovation Campus
Allentown Multi-tenant office building New Announced Office 400,000
6 IBEW Local #375 Allentown Labor union Expansion Under Construction Office $2,130,000 32,000
7 Mack Trucks Customer Center Allentown Truck mfg. Expansion Completed Office $3,000,000 160,000
8 Nestle Purina South Whitehall Pet food mfg. Expansion Announced Distribution 45 53,000
9 Nestle Waters Upper Macungie Beverage mfg. Expansion Completed MFG $79,000,000 50 580,000
10 NFI Fogelsville General freight trucking New Completed Distribution 413,750
11 Royal Industries Allentown Plastics products mfg. New Announced MFG $3,730,000 80 85,000
12 Ryder Systems Alburtis General freight trucking New Completed Distribution 350 1,200,000
13 Uline Upper Macungie Office supplies wholesaling Expansion Completed Distribution $200,000,000 75 675 1,070,000
Northampton County
14 Alpla Bethlehem Plastics packaging mfg. New Announced MFG $15,200,000 59 160,000
15 Ecopax Food Packaging Bethlehem Paper products mfg. Expansion Completed MFG $20,000,000 30 144,000
16 Everson Tesla Lower Nazareth Motor and generator mfg. Expansion Completed MFG $1,000,000 5 76,960
17 FedEx Regional Hub Northampton General freight trucking New Under Construction Distribution $335,000,000 700 1,200,000
18 Fresh Pet Bethlehem Pet food mfg. Expansion Completed MFG 60 49,150
19 HoverTech Allentown Medical supplies New Completed MFG $4,200,000 67,200
20 Inditex/ZARA Easton Clothing distributor New Completed Distribution 628,475
21 Iron Mountain Easton Waste management New Completed MFG $30,700,000 25 182,000
22 Norac Easton Food mfg. New Completed MFG $25,000,000 80 79,160
23 Old Dominion Freight Line Bethlehem General freight trucking New Completed Distribution $2,650,000 120 48,500
24 Particle Sciences Hanover Twp Scientific research Expansion Completed MFG $10,000,000 30 18,000
25 Reeb Millwork Bethlehem Lumber and plywood products Expansion Completed MFG $38,000,000 147 267 250,000
26 Sharp Packaging Solutions Bethlehem Pharmaceutical packaging Expansion MFG $45,000,000 143,000
27 Straight Arrow Forks Twp Personal care products mfg. Expansion Completed MFG $2,300,000 30 70 200,000
28 The Gateway at Greenway
Park Building
Bethlehem Multi-tenant office building New Under Construction Office $24,000,000 127,832
29 Valley Youth House Bethlehem Children and youth services Expansion Completed Office $4,100,000 200 28,364
30 Vastex Bethlehem Printing machinery mfg. Expansion Completed MFG $3,750,000 8 25 37,500
31 Victaulic Lower Nazareth Metal valve and pipe fitting mfg. Expansion Announced MFG $3,500,000 50 25 400,000
For privacy reasons, some companies declined to provide data for its development project. These job figures are projections.
LVEDC ANNUAL REPORT • 2017 11
611
611
611
191
248
212
248
100
100
309
309
378
248
191
512
946
512
946
987
987
329
329
222
145
145
145
412
412
145
33
33
222
22
22
22
378
476
476
78
78
78
78
19
29
17 18
24
23
11
1
16
22
27
20
21
31
26
15
30
1428
25
7
8
13
10
9
5 2
4 12
3
6
ALLENTOWN
BETHLEHEM
EASTON
SLATE BELT
Lehigh
Northampton
LVEDC ANNUAL REPORT • 201712
Lehigh Valley 4.9%
Statewide Average 1.8%
Lancaster	 4.9%
Philadelphia	 3.2%
Harrisburg	 2.1%
Reading	 1.9%
Pittsburgh	 1.4%
York	 -0.2%
Scranton-
Wilkes-Barre	 -1%
Erie	 -4.6%
Percent Change in Employment in Pennsylvania Metro Areas
Source: U.S. Bureau of Labor Statistics. Seasonally adjusted, non-farm jobs.
The Lehigh Valley had 362,900
seasonally-adjusted nonfarm
jobs at the end of 2016, which
is 4.9 percent higher than
the 346,100 jobs it had in
December 2007, when the
Great Recession began.
Lehigh Valley Has Best Post-Recession Job Growth in Pennsylvania
For the fourth straight year, the Lehigh Valley ranked highest among major metropolitan areas in Pennsylvania in terms of post-recession
job growth, according to an analysis by LVEDC. The Lehigh Valley had 4.9 percent more jobs by the end of 2016 than it did before the
Great Recession began, which is significantly higher than the statewide average of 1.8 percent, and higher than that of seven other major
regions in the state.
LVEDC prepared an application on behalf of the Lehigh Valley to become the location of a
second headquarters (dubbed HQ2) for Amazon, the nation’s largest Internet-based retailer. It
was an extremely competitive process which drew 238 proposals from across North America.
The Lehigh Valley’s bid was ultimately not selected, though LVEDC’s application received
positive direct feedback from Amazon, strengthening the Lehigh Valley’s already strong ties with
the company. The region and organization ultimately benefitted from the application process,
which led to a detailed assessment of the region’s economic strengths, while simultaneously
attracting wide media attention for the Lehigh Valley.
Lehigh Valley Submits Application for Amazon HQ2
Photo Credit: Amazon
LVEDC ANNUAL REPORT • 2017 13
The regions that offer employees with the right skills and appropriate experience
are the ones that will win the battle for new jobs and business growth. The
availability of trained workers was ranked the top factor in the Site Selectors
Guild’s 2016 annual survey report on what drives company location decisions.
Even total operating costs of a particular region or state, which has traditionally
been ranked the top factor, came in at a distance second.
To that end, LVEDC’s talent supply initiative kicked off a study in 2017, in
partnership with Workforce Board Lehigh Valley that identifies talent supply
and demand issues and create a strategy that results in a broader, ongoing
understanding of the workforce among employers, educators and others. MDB
Insight was selected to lead the study, surveying and interviewing employers,
educators, and others about their experiences and issues in talent supply and
demand.* The results of this study and subsequent strategic action plan will be
released in 2018.
The initiative stems from a 2014 study, “Bridging the Workforce Gap,” which
analyzed the region’s labor supply pipeline. That study was commissioned by
LVEDC and the Workforce Board Lehigh Valley, and led to the creation of the
LVEDC Education and Talent Supply Council, which is a major driver behind the
talent supply initiative.
*This study was partially funded by a grant the Workforce Board Lehigh Valley received from Pennsylvania
Department of Labor and Industry.
The Lehigh Valley talent supply
study is focused on five specific
target sectors:
Lehigh Valley Talent Supply Initiative
“We put a lot of effort into recruiting and retaining employers by
marketing the Lehigh Valley’s economic assets. To continue the
success we’ve had, it is imperative that we know our region better
than other regions know themselves. That begins with understanding
our challenges in the quantity and quality of our talent supply.”
Don Cunningham, LVEDC President & CEO
Life Sciences Research
& Manufacturing
High-Value Business Services
Transportation & Warehousing
Manufacturing
Health Care
LVEDC ANNUAL REPORT • 201714
LVEDC 2017 Financing Projects
It’s been another successful year for LVEDC’s Finance Department, which provides much-needed capital for companies looking
to relocate, expand, or start in our region. LVEDC provided access to funding in excess of $17.2 million in support of investment
in the Lehigh Valley that will exceed $54.6 million. These projects helped lead to the creation or retention of more than 800 jobs.
LVEDC offers access to a wide variety of financing options and loan programs to address an array of business needs. Our staff of-
fers a consultative approach to advising companies, not only on the resources we administer directly, but on a myriad of financing
options available through traditional lenders and other public and non-profit resources, to maximize the benefit to our customers.
We offer several incentive financing resources through the Lehigh Valley Lending Network, which offers a single point of entry
to 16 local banks and lending institutions and more than 30 local, state and federal business financing & incentive resources to
eligible companies in our region.
LVEDC also works with various partners to administer local, state and federal economic development loan and grant programs.
These partners include the Northampton County Industrial Development Authority, Lehigh County Industrial Development Au-
thority, the Allentown Development Company, Allentown Economic Development Corporation, and the Lehigh Valley Economic
Investment Corporation (formerly the Northampton County New Jobs Corp and Lehigh’s Economic Advancement Project).
Company Amount Project Jobs Created* Jobs Retained*
ACR Development $300,000** $2,250,000 3 9
Campbell & Strasser $218,250 $485,000 3 6
Cole’s K-9 Center $268,888 $670,000 5 13
Consolidated Storage Companies $2,204,000 $5,510,000 1 99
Green Knight Economic Development Corp/ BOS $3,944,365 $14,000,000 280 -
Northampton County Development Partnership $500,000 $3,100,000 - -
Royal Industries $1,250,000 $4,100,000 80 -
Straight Arrow $2,000,000 $13,930,000 30 66
Straight Arrow $2,300,000 $5,155,000 - -
Two Rivers Brewing $378,677 $1,113,530 15 -
Valley Youth House $3,850,000 $4,350,000 - 200
TOTAL $17,214,180 $54,663,530 417 393
*For privacy reasons, some companies declined to provide data about the number of jobs created or retained by its financing projects. These job figures are projections.
**Syndicated loan involving the City of Allentown, Allentown Economic Development Corporation and Allentown Development Company
LVEDC ANNUAL REPORT • 2017 15
Green Knight Economic Development Corporation
LVEDC’s single largest financing project from 2017 (in terms of dollar amount)
was the $3.94 million that the Green Knight Economic Development Corporation
received for the redevelopment of the former tire recycling facility in Wind Gap.
The financing was secured through Pennsylvania’s Business in Our Sites program.
LVEDC wrote the economic feasibility study that served as a central component in
the financing application, and worked with program administrators to promote the
request.
Consolidated Storage Companies
This Tatamy-based company, which sells most of its products under the brand name
Equipto, is a leading manufacturer of industrial and commercial storage products.
LVEDC worked with Seedco to help the company obtain $2.2 million in financing
through the SBA 504 program for the acquisition of the company’s building. LVEDC
also previously helped the company obtain a Pennsylvania Industrial Development
Authority (PIDA) loan to buy equipment that helped it better recycle excess paint
from its painting process, reducing the amount of related waste and disposal costs.
Straight Arrow Products
This nationally-renowned manufacturer of human and equestrian cosmetic and
beauty products formally completed a major expansion project last summer.
Straight Arrow Products, makers of The Original Mane ‘n Tail shampoo and condi-
tioner, underwent a 15,000 square-foot expansion of the 92,000-square-foot plant
in Forks Township. LVEDC helped secure PIDA financing for the project, as well
as for machinery and equipment. The company’s products have been praised by
such celebrities as Sarah Jessica Parker, Jennifer Aniston, Demi Moore, and Kim
Kardashian.
Featured Financing Projects
LVEDC ANNUAL REPORT • 201716
Mack Trucks
Mack Trucks announced in December 2017
that it was adding another 400 workers to
its Lower Macungie Township plant, which
had already employed about 2,000 people.
This will bring employment at the facility to
an all-time high. This comes in addition to
the completed $3 million renovation and
remodeling of its customer center, and the
ongoing $70 million in investments to the
Lower Macungie plant to further improve
manufacturing quality and efficiency and
modernize the facility
Alpla Inc.
Alpla Inc., an Austrian manufacturer of plastic
packaging items is establishing a presence
in the Lehigh Valley. Its 160,000 square-foot
facility in Bethlehem will create 59 new jobs
over the next three years. Alpla Inc. is investing
$15.2 million into the facility at Lehigh Valley
Industrial Park VII, which will produce food,
household and cosmetic product containers.
Vastex International
Vastex International, Inc., a family-owned
manufacturer of screen-printing equipment for
the garment industry, held a groundbreaking
in May 2017 for a new 37,500 square-foot
facility in the Lehigh Valley Industrial Park
VII in Bethlehem, with plans for an eventual
expansion. The project is expected to create
eight new jobs and retain 23 existing jobs.
Vastex also drew the attention of Pennsylvania
Gov. Tom Wolf in 2017, when he toured the
facility as part of his statewide “Jobs That
Pay” tour.
Royal Industries
Royal Industries International, Inc., a
manufacturer of promotional products, is
relocating its headquarters from Brooklyn to
Allentown, purchasing an 85,000 square-foot
facility and investing at least $3.73 million into
the project. Royal Industries had operated
in Brooklyn since its inception, but decided
to move to the Lehigh Valley for efficiency
reasons.
Manufacturing Success
Stories in the Lehigh Valley
As 2017 began, LVEDC launched a bill-
board campaign touting the message:
“Hey, world, we still make stuff here!” We
wanted to make clear that, despite any
preconceived notions to the contrary,
manufacturing is still going strong in the
Lehigh Valley.
Contributing $6.9 billion to the
Lehigh Valley economy, the
manufacturing sector not only
grew over the previous year,
but it makes up a larger portion
of the total regional GDP at nearly
18 percent, compared to 15
percent a year earlier.
Manufacturing output in the Lehigh Valley
has increased by 34 percent in the last
five years.
LVEDC ANNUAL REPORT • 2017 17
Victaulic Highlighted at Fall Signature Event
Each year, the LVEDC Fall Signature Event highlights a Lehigh Valley company
that exemplifies one of the region’s four target sectors. This year, the company was
Victaulic, a Forks Township-based manufacturer of mechanical pipe joining solutions
and grooved pipe joining systems, which announced during the event that it will be
investing tens of millions of dollars to increase its manufacturing operations in the
region.
The company is expanding its Lehigh Valley manufacturing operations and adding
a second shift to its Forks Township facility, adding 45 to 50 new jobs by the end of
2018. It is also purchasing 28 acres of land in Lower Nazareth Township to build a
new 400,000 square-foot facility as a result of increased domestic demand for the
company’s products.
Other Manufacturing
Highlights
Gov. Wolf Tours Vastex
Pennsylvania Gov. Tom Wolf
stopped in the Lehigh Valley to
tour the Vastex International facility
as part of his statewide “Jobs That
Pay” tour.
LVEDC Invited to Prestigious
Conference
Don Cunningham spoked at
the prestigious ACG Annual
Manufacturing Conference in New
York City, where he discussed
manufacturing in the region.
Gov. Wolf Announces
Manufacturing Initiative
Gov. Wolf chose the National
Museum of Industrial History in
Bethlehem to first announce an
initiative to support manufacturing
in Pennsylvania.
“We wouldn’t have been able to have done that without the support
of LVEDC, and the image that the Lehigh Valley has because of that
organization. By showcasing the region’s capabilities, we’ve been able
to recruit not only in the area, but around the country.”
John F. Malloy, Victaulic Chairman, President, and CEO
LVEDC ANNUAL REPORT • 201718
International Investment
The importance of international investment for the Lehigh Valley economy continues to grow. The region has long been a home to prominent
companies from around the world, such as Olympus, Bosch Rexroth, B. Braun, Hydac, and others. The Lehigh Valley’s location on the East
Coast, proximity to New York City and Philadelphia, and availability of talent and technical support from higher education institutions are
attractive assets for internationally-based companies seeking entries into the U.S. market.
Business Development
Tour in China
In its ongoing efforts to attract
foreign direct investment to
the Lehigh Valley, LVEDC
embarked on a 10-day tour
in China in May 2017. This
marked the organization’s
second international business
tour in as many years.* The
tour included stops in Beijing,
Shanghai, and other cities
and provinces to meet with
representatives from Chinese
manufacturers, pharmaceutical
firms, medical device
manufacturers, and other firms
to discuss opportunities in the
Lehigh Valley.
International Business
Investment Reps
LVEDC has worked closely
for years with a network
of business investment
representatives across the
globe to attract businesses
to the region. In May 2017,
LVEDC hosted a visit of those
representatives from more than
a dozen countries, providing
an overview of the regional
economy and discussing
why the Lehigh Valley is a
perfect place for international
companies seeking to establish
operations in the United States.
Chinese Government
Officials Visit
LVEDC hosted a November
2017 visit from members of
China’s Ministry of Commerce
to discuss foreign direct
investment in the Lehigh Valley
and how the organization
can help Chinese companies
establish future operations
in the region. The group
discussed the advantages for
overseas companies investing
in the Lehigh Valley, foreign
investment trends from recent
years, and regional initiatives
or policies available to attract
Chinese companies
SelectUSA
Investment Summit
Don Cunningham moderated
a panel discussion at the 2017
SelectUSA Investment Summit,
the highest-profile event
dedicated to promoting foreign
direct investment in the U.S.
Additionally, a representative
from Fuling Plastics, China’s
largest manufacturer of plastic
kitchenware, participated in a
discussion about “Renewed
Economic Opportunity in the
United States” and discussed
the company’s Lehigh Valley
facility.
*Business development trip was organized by the Office of International Business Development,
which is part of the Pennsylvania Department of Community and Economic Development.
LVEDC ANNUAL REPORT • 2017 19
Existing Companies Expanding in the Lehigh Valley
While helping attracting new businesses is a big part of what LVEDC does, an equally important component of the organization’s mission is
helping existing businesses in the region continue to grow and thrive. Bringing in new companies tends to get the bigger headlines, but 70
percent of new jobs created in the Lehigh Valley each year come organically from companies already located here.
In addition to Mack Trucks and Victaulic (see pp. 16-17), below are a few examples of companies within the Lehigh Valley expanding or
doubling down on their investment in the region:
Air Products
The Fortune 500 industrial gas company is planning a new corporate
headquarters, and while the final location has not been determined,
it is committed to remaining here in the Lehigh Valley. Air Products
has narrowed the list of potential sites to a property in Upper Saucon
Township, its existing campus in Upper Macungie Township, and
another site near Trexlertown. A final decision is expected in the first
half of 2018.
Nestlé Waters
The summer of 2017, Nestlé Waters completed a two-year, $79
million expansion of its 580,000 square-foot bottling facility in Upper
Saucon Township, which included three new high-speed bottling
lines and the addition of about 50 employees. Nestlé Waters employs
about 500 people at its two Lehigh Valley bottling facilities, which
have a combined payroll of more than $36 million, according to the
company.
Avantor
Avantor, the global leader in integrated,
tailored solutions for the life sciences and
advanced technology industries, is moving
from its previous Center Valley location
into a new office in Tower 6 in downtown
Allentown. The company looks forward to
establishing a “dynamic, contemporary
workspace in the heart of this growing
commercial and cultural area,” according
to Avantor CEO Michael Stubblefield.
Sharp Packaging Solutions
The global market-leading packaging
company continued its growth in the
Lehigh Valley, announcing in April 2017
that it acquired a 160,000 square-foot
pharmaceutical packaging facility in
Bethlehem from Daiichi Sankyo for $14
million. That comes in addition to the
company increasing it capacity by 30
percent as the result of a $45 million
expansion project at its Upper Macungie
Township facility the previous year.
Uline
Uline, a leading distributor of shipping,
industrial and packaging materials, will
be purchasing two warehouses in Upper
Macungie Township that it currently leases.
Totaling about 1.7 million square feet, the
warehouses, as well as a 44-acre site on
the property that Uline is also purchasing,
speaks to the company’s commitment to
the Lehigh Valley, where it has operated
for 14 years.
LVEDC ANNUAL REPORT • 201720
LVEDC ANNUAL REPORT • 2017 21
Industrial Buildings
by Use Type
Manufacturing
50%
Warehouse
27%
Distribution
19%
Flex
4%
Lehigh Valley Commercial Real Estate
Each quarter, LVEDC prepares and distributes a Lehigh Valley Commercial Real Estate Report, which provides information about the region’s
office, industrial, and flex markets. For Q4 2017, the report has been included with the LVEDC 2017 Annual Report, providing a year-end out-
look of the real estate climate in the Lehigh Valley.
116.4 Million
Total Inventory (SF)
2.7 Million
2017 Net Absorption (SF)
2.8 Million
2017 Deliveries (SF)
5.5 Million
Total Under Construction (SF)
1.7%
Inventory Net Growth
4.7%
Vacancy Rate
$5.68
Average Asking Rent
13.1%
YOY Rent Growth
MARKET SUMMARY
Total industrial building inventory grew by 1.7 percent in 2017. The nine
projects under construction represent 5.5 million additional square feet.
Source: CoStar, LVEDC Research
SNAPSHOT: INDUSTRIAL MARKET
The Lehigh Valley
has added nearly
20 million square
feet of industrial and
flex building space
in the last five years.
4%
19%
27%
50%
Source: LVEDC Research Source: CoStar
Year Added Space
2017 3.8 million
2016 7.3 million
2015 4.2 million
2014 4.0 million
2013 0.5 million
LVEDC ANNUAL REPORT • 201722
Market Spotlight on Small-Footprint
Industrial Buildings
(40,000 to 80,000 square feet)
MARKET SUMMARY
Small-footprint buildings suitable for manufacturers are a
significant need. Few have been built in recent years. With
available buildings almost fully occupied, average rent has
increased by 23 percent in the last five years.
611
191
248
248
248
191
512
946
512
946
987
987
329
33
22
EASTON
SLATE BELT
Northampton
WIND GAP
Total Inventory
(SF)
Building
Occupancy
Average Rent
(NNN) per SF
2013 13.1 million 94.7% $4.60
2014 13.1 million 95.2% $4.68
2015 13.1 million 96.4% $4.90
2016 13.1 million 95.2% $5.50
2017 13.3 million 96.0% $5.48
Source: CoStar
Small-Footprint Industrial Building Pipeline
2017 Deliveries (3)
4300 Braden Boulevard, Forks Township
2535 Brodhead Road, Bethlehem Township
4482 Innovation Way, Hanover Township
(Northampton)
Under Construction (1)
5000 Township Line Road, Hanover Township
(Northampton)
Proposed (1)
1403 Jacobsburg Road, Bushkill Township
Source: CoStar, Northampton County Real Estate Tax Records, LVEDC Research
LVEDC ANNUAL REPORT • 2017 23
Average Asking Rent for
Class A Office Space ($/SF)
New York City Metro $75.08
Washington, D.C. $60.16
D.C. Suburbs $33.39
Charlotte, NC $32.02
Philadelphia $31.72
Long Island, NY $30.71
Northern New Jersey $30.40
Raleigh-Durham, NC $30.17
Philly Suburbs $29.62
Lehigh Valley $18.60
Source: CoStar, LVEDC Research
Lehigh Valley Class A Office Space Inventory (SF)
Total Square Feet
2013 2014 2015 2016 2017
5.6M
5.8M
6.1M
6.4M
6.5M
Source: CoStar
MARKET SUMMARY
Overall office vacancy decreased from 9.5 percent to 7.7 percent in 2017.
Class A office space vacancy dropped from 15.4 percent to 10.1 percent.
SNAPSHOT: INDUSTRIAL MARKET
26.3 Million
Total Inventory (SF)
625K
2017 Net Absorption (SF)
181K
2017 Deliveries (SF)
288K
Total Under Construction (SF)
0.7%
Inventory Net Growth
7.7%
Vacancy Rate
$15.80
Average Asking Rent
6%
YOY Rent Growth
Source: Colliers International
Even with the addition of more than 900,000 square
feet of Class A office space in the last five years,
the vacancy rate in that period has decreased from
17 percent to 10 percent.
LVEDC ANNUAL REPORT • 201724
Lehigh Valley Comparative Data
Lehigh Valley Labor & Talent Supply Data
Average Wages for 10 Common Occupations
in the Lehigh Valley
Software Application Developers $97,780
Computer Systems Analysts $88,000
Accountants and Auditors $75,020
Registered Nurses $67,190
Chemical Technicians $54,090
Industrial Machinery Mechanics $48,580
Machinists $42,100
Computer-Controlled Machine Operators $37,680
Customer Service Representatives $34,430
Freight, Stock and Material Movers $30,080
Source: Bureau of Labor Statistics
Degrees Awarded by Lehigh Valley Colleges,
Universities & Technical Schools
Cost of Living
9% < Baltimore
10% < Philadelphia & New Haven, CT
14% < Providence, RI
14% < Northern New Jersey
25% < Bethesda, MD
27% < Boston & Arlington, VA
32% < Washington, DC
42% < Brooklyn
Source: Council for Community and Economic Research
Compared with other
metropolitan areas in the
Northeast, the cost to live
in the Lehigh Valley is
significantly lower.
Program
2-Year &
Certificate
4-Year /
Postgraduate
Business Administration & Management 136 671
Nursing 292 248
Finance & Accounting 1 468
Psychology 28 321
Medical & Clinical Assistant 299 0
Criminal Justice / Public Safety 200 85
Biological Sciences 51 200
Mechanical Engineering 0 224
Source: Jobs EQ (Data for 2015-16 academic year)
LEHIGH VALLEY
LVEDC ANNUAL REPORT • 2017 25
LVEDC’s Business Outreach Program (BOP) uses a customer-oriented approach
to economic development designed to link Lehigh Valley businesses to resources
throughout the community that will help their business become more profitable. The
program combines the resources of LVEDC, government agencies, our public-sector
partners, and private corporations.
The goal of the program is two-fold: providing a single point-of-contact for all of your
business needs, and helping to identify resources to assist you in succeeding in today’s
competitive environment. Businesses have often received assistance in workforce
training and recruitment, exporting, strategic and business planning, financing, and
more.
RedevelopmentBusiness Outreach Program
“Tyber Medical relocated to the Lehigh Valley three years ago with a
goal of transforming a four-person startup company into a 25-person
vibrant business. This achievement was possible through the dedication,
direction, and hard work of the LVEDC team in providing guidance on
local growth programs such as funding and workforce recruiting. We look
forward to the next three years and the future growth of Tyber Medical with
our strategic alignment with the LVEDC and the state of Pennsylvania.”
Jeff Tyber
President, CEO & Founder, Tyber Medical
The Lehigh Valley Land Recycling
Initiative (LVLRI), LVEDC’s
redevelopment program, is focused
on promoting economic development
through the reuse of abandoned
and underutilized commercial and
industrial properties, also known as
brownfields. Fostering economic
development while protecting human
health and the environment is an
important element of LVEDC’s efforts
to support sustainable development.
LVLRI is an advisory committee
comprised of municipal officials from
cities, boroughs, and townships
in both Lehigh and Northampton
counties,aswellasbrownfieldexperts,
regulatory agency representatives,
private developers, engineers, and
consultants.
Redevelopment projects in the
Lehigh Valley drew national attention
in 2017. Bethlehem’s SteelStacks
Arts and Cultural Campus won the
prestigious Rudy Bruner Award for
Urban Excellence, and the Allentown
Neighborhood Revitalization District
won the Urban Land Institute’s
2017-18 Global Award of Excellence.Visit lehighvalley.org/BOP for more information and testimonials from some of
the businesses we support.
LVEDC ANNUAL REPORT • 201726
LVstartup
This past summer marked the two-year anniversary
of LVstartup, a monthly e-newsletter about the
Lehigh Valley entrepreneurial and startup
community. Written and distributed by the
Entrepreneurship Council of the Lehigh Valley,
LVstartup provides information about local events,
news stories, and resources available to help
entrepreneurs grow and thrive in the region.
Released every first Thursday of the month,
LVstartup is one of several ways LVEDC helps
provide startups with important skills and valuable
expertise, as well as helping entrepreneurs refine
their business goals, identify their markets, hone
their business plans, and locate start-up capital.
Visit lehighvalley.org/lvstartup to subscribe.
“Bethlehem Makes Best Places
to Retire in 2017 List”
“The Region That Built 20th
Century America”
“Places for New College
Graduates”
“Lehigh Valley Top 5 in U.S.
for Fastest-Growing Home
Ownership Rates”
“Bethlehem Among Cities That
Give Worst Case of FOMO”
“Lehigh Valley Sees Growth
in Tech Companies”
External Coverage of the Lehigh Valley Economy
In addition to American Way (see p. 7) and The New York Times (see
page 9), the Lehigh Valley economy drew media coverage from a
wide range of publications outside of the regional market. Below are
just a few examples:
“Allentown Among 2017
‘Overlooked Dream Cities’”
LVEDC ANNUAL REPORT • 2017 27
New LVEDC Videos Released
LVEDC has a long history of producing high-quality videos to help market the
Lehigh Valley’s economic assets to the largest audience possible. These efforts
have received international attention, earning LVEDC an Excellence in Economic
Development Award from the International Economic Development Council in
2016. LVEDC continued these efforts, producing three new videos highlighting
major projects in the Lehigh Valley, including Tyber Medical, Michelman Steel,
and the Guardian Life Insurance Company of America. Visit the LVEDC YouTube
channel to watch these videos at youtube.com/lvedc.
New LV Economic Development
Magazine
The third issue of the popular Lehigh Valley Economic
Development magazine was released in January 2017,
serving as a showcase for the regional economy. The
third issue to be released since 2014, this new edition
focusedspecificallyonthesuperiortalentpooltheLehigh
Valley offers to incoming and existing companies. The
44-page magazine is part of a collaboration between
LVEDC and Journal Communications, and has served
as an important marketing tool to attract businesses
and site selectors to the Lehigh Valley.
LVEDC Events
In addition to the LVEDC Fall Signature
Event (page 15), LVEDC hosted several
events in 2017, including:
“The Future of Logistics”
An expert panel met at the NFI Industries
facility in Upper Macungie Township to
discuss changes in the supply chain and
logistics industry.
Meet the Buyers Expo
More than 200 small business
representatives from around the
region connected with 50 procurement
professionals at the bi-annual expo.
“We Just Need a Little Space”
A panel of regional experts gathered
to discuss the shortage of the smaller-
footprint manufacturing and flex space in
the Lehigh Valley.
County Executive Candidate Forum
LVEDC hosted a forum on economic
developmentatCoca-ColaParkwithallfour
candidates for Lehigh and Northampton
executive.
LVEDC ANNUAL REPORT • 201728
Chair
Jane P. Long
Chair, Corporate, Business and
Banking Group
Fitzpatrick Lentz & Bubba, P.C.
Vice Chair
Dan McCarthy
Secretary
Lehigh Valley Partnership
Secretary
Ed Dougherty
Chief Business Development Officer
Lehigh Valley Health Network
Treasurer
Patricia Johnson
Vice President, Finance and Administration
Lehigh University
Don Cunningham
President & CEO
Lehigh Valley Economic Development
Corporation
Anne Baum
Lehigh Valley Executive and VP,
Distribution Channels & Labor Relations
Capital BlueCross
Donald Bernhard
Secretary
Allentown Economic Development
Corporation
Hon. John A. Brown
County Executive
Northampton County
Luke Cunningham
Chair
Bethlehem Economic Development
Corporation
Hon. Robert Donchez
Mayor
City of Bethlehem
Gregory Dudkin
President
PPL Electric Utilities
Dr. Mark Erickson
President
Northampton Community College
Joel Fagerstrom
Executive Vice President /
Chief Operating Officer
St. Luke’s University Health Network
Cindy Feinberg
Partner
Feinberg Real Estate Advisors
Lauren Goff
Executive Director,
Corporate Social Responsibility
Olympus Corporation of the Americas
Dr. Bryon Grigsby
President
Moravian College
Kassie Hilgert
President & CEO
ArtsQuest
Andrew Hines
Director of Facilities
Lutron Electronics Co. Inc.
Silvia Hoffman
President
MKSD architects
T. Anthony Iannelli
President & CEO
Greater Lehigh Valley Chamber
of Commerce
Mark Jobes
Senior Vice President, Commercial Loans
Lafayette Ambassador Bank
Stephen Kalamar
Senior Vice President
Univest Bank and Trust
Gary Kinsey
Manager, Real Estate and Property
Management, IG Americas Energy
and Real Estate Procurement
Air Products, Inc.
Eric Luftig
Vice President, Marketing,
Corporate Communications,
Training & Construction Piping
Victaulic
Hon. Tom Muller
County Executive
Lehigh County
John L. Nespoli
President & CEO
Sacred Heart HealthCare System
Hon. Brad Osborne
Commissioner
Lehigh County Board of Commissioners
Hon. Sal Panto, Jr.
Mayor
City of Easton
Philip Schenkel
Vice President
JLL
Stu Shaw
Vice President, Chief Actuary,
Group & Worksite Markets
Guardian Life Insurance Company
of America
Michael Stershic
President
Discover Lehigh Valley
R. Scott Unger
Chair
Lehigh Valley Land Recycling Initiative
Hon. Seth Vaughn
Vice President
Northampton County Council
Barry Wentzel
Director, East Region
UGI Utilities, Inc.
Don Cunningham
President & CEO
John Kingsley
Vice President
Finance
Matthew Tuerk
Vice President
Economic Development & Marketing
Jaime Whalen
Vice President
Administration & Investor Relations
Lori Betters
Director, Budget & Administration
Melody Bradford
Director, Business Outreach Programs
Karianne Gelinas
Director, Talent Supply
Michael Keller
Director, Marketing
Andrew Kleiner
Director, Redevelopment & External Affairs
George Lewis
Director, Research & Analysis
Colin McEvoy
Director, Communications
Doug Warfel
Director, Regional Lending
Jennifer Weighknecht
Director, Credit Risk
Jarrett Witt
Director, Business Development
Diane Milia
Administrative Assistant
Kat Schneider
Office Administrator
Stephanie Wean
Finance Administrator
2017 LVEDC Board of Directors LVEDC Staff
LVEDC ANNUAL REPORT • 2017 29
2017 Income & Expenses*
Hotel Tax Proceeds $1,477,243
Private Sector Contributions $560,551
Finance & Administrative Fees $306,842
Public Sector Contributions $155,000
Grants $233,357
Other Income $11,012
$2,744,005
Operating
Marketing
Economic
Development
Financing
Hotel Tax
Proceeds
Private Sector
Contributions
Grants
Public Sector
Contributions
Other
Income
Finance &
Administrative
Fees
53.8%
20.4%
11.2%
5.6%
8.5%
.4%
19%
29%
38%
14%
Operating
Marketing
Economic
Development
Financing
Hotel Tax
Proceeds
Private Sector
Contributions
Grants
Public Sector
Contributions
Other
Income
Finance &
Administrative
Fees
53.8%
20.4%
11.2%
5.6%
8.5%
.4%
19%
29%
38%
14%
2017 Unaudited Revenue
2017 Unaudited Expenses
Operating $511,424
Marketing $783,314
Financing $394,674
Economic Development $1,054,820
$2,744,232
*These figures do not include pass-through grant funds managed by LVEDC
LVEDC Reaccredited
LVEDC has once again been
recognized as an accredited
economic development organization
by the International Economic
Development Council. This marks the
third consecutive time LVEDC has
received this accreditation.
The organization was first accredited
on Sept. 28, 2010, and reaccreditation
occurs every three years. LVEDC is
one of only 58 economic development
organizations accredited by IEDC.
“LVEDC is committed to
operating at the highest
level, and this accreditation
recognizes our standards and
our professionalism. While
accreditation doesn’t get the
job done, it showcases to our
stakeholders and peers our
commitment to excellence.”
Don Cunningham,
LVEDC President & CEO
2017 Investors
The investment of these companies and organizations in 2017 helped make it possible for LVEDC to market the economic assets of the Lehigh
Valley throughout the United States and the world. LVEDC had a record-breaking year of investment, totaling more than $660,000. Thank you
for your commitment to regional economic growth.
A&H Sportswear
Adams Outdoor Advertising
Alvin H Butz
Borton Lawson
Computer Aid
Crayola
CrossAmerica Partners
DeSales University
Duke Realty
Embassy Bank for the
Lehigh Valley
Feinberg Real Estate Advisors
First Commonwealth Federal
Credit Union
Follett Corporation
Griffin Industrial Realty
Hillwood Investment Properties
Hospital Central Services
Corporation
JLL
JM Uliana & Associates
Lafayette College
Lee & Associates of Eastern PA
MKSD architects
Moravian College
Norris McLaughlin & Marcus
OraSure Technologies
Peoples Security Bank
Provident Bank
QNB Bank
Quandel Construction Group
Sacred Heart Healthcare System
Santander Bank
Service Electric
Unity Bank
Northampton
County
Lehigh
County
GREEN KNIGHT
ECONOMIC DEVELOPMENT CORPORATION
31LVEDC ANNUAL REPORT • 2017
44 Business Capital
515 Hamilton Group at
Morgan Stanley
Albarell Electric
Allied Building Corporation
Allied Personnel Services
ARCO Design/Build Northeast
ArtsQuest
Baker Tilly
Barry Isett & Associates
Berger-Epstein Associates
BerkOne
Bethlehem Redevelopment Authority
Blue Rock Construction
Bohler Engineering
Broughal & Devito
Buckno Lisicky & Company
CBRE
Cedar Crest College
CF Martin & Company
Communication Systems
Compass Point
Corporate Environments
D’Huy Engineering
Diefenderfer Electrical Contractors
Dutch Springs
EarthRes Group
Easton Area Industrial Land
Development Corporation
Easton Coach
ESSA Bank & Trust
Express Employment Professionals
of Lehigh County
Express Employment Professionals
of Northampton County
FastSigns of Allentown
Fedetz & Martin Associates
Fishburn Realty Company
Frederick Group
Gelcor Realty
Gilmore & Associates
Good Shepherd Rehabilitation
Network
Graybar Electric
Gross McGinley
Haines & Kibblehouse
Handlon Business Resources
Hanover Township - Lehigh County
HDR Engineering
Highland Associates
HMK Insurance
Horwith Trucks/ Horwith Leasing
Hotel Bethlehem
IMC Construction
Ironton Telephone Company
Joshi Hotel Group
Just Born
Kelly Automotive Group
Kitchen Magic
Klunk & Millan Advertising
Knopf Automotive
Kreischer Miller
Kressler Wolff & Miller
Lehigh Carbon Community College
Lehigh Career & Technical Institute
Lehigh County Authority
Lehigh Valley Industrial Park
Lehigh Valley Rail Management
Lesavoy Butz & Seitz
Life Sciences Pennsylvania
Lightweight Manufacturing
Manufacturers Resource Center
Markward Group
Maser Consulting
Merchants Bank of Bangor
Mericle Commercial Real Estate
Services
Michael Baker International
Modernfold of Reading
Moonstone Environmental
Nacci Printing
NAI Summit
New Tripoli Bank
North Star Construction Management
Northampton Community College
O’Brien’s Moving & Storage
Ondra-Huyett Associates
Orbel
Ott Consulting
Pennoni Associates
Regan Levin Bloss Brown & Savchak
Reimer Real Estate
Rettew Associates
SAGE Design-Build
Sperry Van Ness - Imperial Realty
Spillman Farmer Architects
Stevens & Lee Allentown
Superior Quartz Products
Synergy Environmental
Talen Energy
Terraform Engineering
The Pidcock Company
TWG
Ultra-Poly Corporation
Veraxia Commercial Real Estate
Solutions
Wacker Polymers - Americas
Wind Gap Electric
2158 Avenue C, Suite 200 Bethlehem, PA 18017
Phone: 610-266-6775 • Fax: 610-266-7623
www.lehighvalley.org
Our Mission
The mission of the Lehigh Valley Economic Development Corporation is to market the economic
assets of the Lehigh Valley and to create partnerships to lead the recruitment, growth, and
retention of employers.
Our Vision
Our vision is of a diverse Lehigh Valley economy that provides economic growth and opportunity
for people of all skills and education and strengthens all our cities, boroughs, and townships.
Our Priorities
•	 Market the economic assets of the Lehigh Valley
•	 Recruit companies in targeted economic sectors
•	 Support the growth and retention of new and existing employers
•	 Promote and coordinate a skilled and prepared workforce
•	 Provide intelligence and data on the Lehigh Valley economy
•	 Expand public and private LVEDC investment and build partnerships for economic growth
Lehigh Valley
Come here. Start here. Grow here.
LVEDCisanaccreditedeconomicdevelopmentorganizationaccordingtotheIEDC.
©2018LehighValleyEconomicDevelopmentCorporation.AllRightsReserved.03.18
LVEDCAnnualReportdesignedbyMichelleChrin.PhotographybyMarcoCalderonorDigitalFeast.

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LVEDC 2017 Annual Report

  • 2. The mission of the Lehigh Valley Economic Development Corporation is to market the economic assets of the Lehigh Valley and to create partnerships to lead the recruitment, growth, and retention of employers.
  • 3. LVEDC ANNUAL REPORT • 2017 3 2017 marked my first year as Chair of the LVEDC Board, and I’m pleased to say the organization has a clear vision for continued economic growth and opportunity in the Lehigh Valley. LVEDC has been reaccredited by the International Economic Development Council, and has experienced another record-breaking year in investment; in fact, our best yet. We are well poised to continue building on the excellent work LVEDC’s staff and partners have done over the years. In December 2017, LVEDC’s Board approved a new three-year strategic plan to establish the organization’s priorities and initiatives as it continues its work to advance the region’s economic growth and job creation through 2020. The plan is the result of a comprehensive process that included outside consultants, key stakeholders in the Lehigh Valley, and LVEDC’s staff and Board. LVEDC is also embarking on several other important initiatives, including a much-anticipated talent supply initiative and study. This initiative has the goal of gaining a useable understanding of the Valley’s workforce – and providing a framework for regularly updating that data in this rapidly evolving sector – for the benefit of the Lehigh Valley’s employers, educators, and regional partners. It’s been a real pleasure to work with so many talented professionals in both the public and private sectors, all with the same goal of growing our region. I’d like to thank all of LVEDC’s many stakeholders for their continued support, and especially our many investors for making this a great year. The Lehigh Valley saw another year of historic economic growth in 2017, which speaks to the remarkable diversity among our various economic sectors, a sign of a well-balanced and multifaceted economy. The region’s gross domestic product has surpassed the $39 billion mark for the first time in its history. That’s more economic output from the two-county region of 665,000 people than the entire states of Vermont or Wyoming, as well as 108 other countries in the world. And while transportation and warehousing is our fastest-growing sector, manufacturing still makes up a significantly larger portion of our GDP, contributing $6.9 billion, or nearly 18 percent of the total. We’ve tracked 31 business attraction/expansion projects either announced, under construction, or completed in the Lehigh Valley in 2017, creating more than 2,200 jobs and retaining more than 1,300. LVEDC also provided access to $17.2 million in financing in 2017, resulting in another 810 jobs either created or retained. I’d like to thank the LVEDC Board of Directors and everyone who has played a part in helping LVEDC deliver on its mission of growing opportunity and creating jobs in the Lehigh Valley. Jane P. Long Board Chair Don Cunningham President & CEO
  • 4. LVEDC ANNUAL REPORT • 201744 Source: U.S. Census Bureau 2016, American Community Survey One-Year Estimates Source: JobsEQ. This table does not include other industries that make up less than 3 percent of the total percentage of the labor force, including Wholesale Trade; Management of Companies; Public Administration; Arts, Entertainment, and Recreation; Information; Real Estate; Utilities; Agriculture, Forestry, Fishing, and Hunting; Mining and Quarrying. TOTAL POPULATION 665,441 TOTAL HOUSEHOLDS248,182 Unemployment Rate* 4.9% 2,224 Jobs Created by 2017 Business Development Projects 1,357 Jobs Retained by 2017 Business Development Projects 810 Jobs Created or Retained by 2017 LVEDC Financing Projects Source: LVEDC Research Department. These job figures are projections, and some jobs will be created over the course of multiple years. Health Care & Social Assistance Retail Manufacturing Transportation & Warehousing Accommodation & Food Service Education Administrative & Support Services Construction Professional, Scientific & Technical Services Finance & Insurance 10,111 12,572 13,488 23,880 25,166 26,597 27,832 32,388 34,380 55,830 17.4% 10.7% 10.1% 8.7% 8.3% 7.9% 7.4% 4.2% 3.9% 3.2% Employment by Industry: Labor Force 344,623 Median Household Income $59,989 Per Capita Income $30,270 Source: JobsEQ. *December 2017, seasonally adjusted.
  • 5. LVEDC ANNUAL REPORT • 2017 5 Lehigh Valley GDP Reaches Record-High $39.1 Billion The Lehigh Valley’s gross domestic product (GDP) has once again reached an all-time high, rising to $39.1 billion. That is a more than 4 percent increase over the previous year, which itself had been a record-high number. The regional GDP saw year-over-year growth in each individual subsector, reflecting the remarkable diversity of the Lehigh Valley’s economic sectors, a sign of a well- balanced economy. The region’s GDP is now larger than that of Wyoming ($38.5 billion) and Vermont ($31.5 billion), as well as 108 other countries in the world. * Data comes from the U.S. Department of Commerce’s Bureau of Economic Analysis (BEA). Gross domestic product (GDP) is the measurement of a country’s economic output. It is the total market value of all finished goods and services produced within a country’s borders in a given year. It includes all consumer, investment and government spending and exports, minus the value of imports. The $39.1 billion figure is for 2016, the most recent year for which data is available. Data on the GDP of other countries comes from the World Bank. $5.3B $5.3B $2.3B $1.6B $1.9B Education & Health Care Professional & Business Services Retail Trade Transportation & Warehousing Information Arts, Accommodation & Food Service +$0.24B +$0.21B +$0.08B +$0.08B +$0.03B $7.9B Finance, Insurance & Real Estate +$0.44B $6.9B Manufacturing +$0.18B $1.9B +$0.16B Lehigh Valley GDP by Industry Sector: Source: U.S. Bureau of Economic Analysis (BEA). The numbers above do not include government spending or other private industry subsectors for which data was unavailable or not disclosed by the BEA. The Lehigh Valley GDP ranks 65th out of the 382 largest metros in the United States, compared to ranking 73rd the previous year. If the Lehigh Valley were a country, it would be the 87th largest country in the world. Fastest-growing sector in the regional economy, with a 9.5 percent growth year-over-year.
  • 6. LVEDC ANNUAL REPORT • 20176 * The number of projects listed is determined by Site Selection for its rankings. The magazine does not disclose which projects it has identified, nor how the magazine reached that figure. LVEDC previously tracked 31 business attraction, expansion and retention projects for the year 2016, resulting in the creation of 4,832 new jobs and the retention of 2,205 more. Published by Conway Data, Site Selection is the oldest publication in the corporate real estate and economic development field. It is the official publication of the Industrial Asset Management Council, and has circulation base of about 44,000 executives involved in corporate site selection decisions. Lehigh Valley Ranks Among Top Five in Site Selection Magazine The Lehigh Valley was ranked one of the top five overall regions in the Northeastern United States in terms of economic development for 2016, and the number one region of its population size in the Northeast, according to Site Selection magazine. It was the only region in the population range between 200,000 and 1 million to make the top five. Site Selection is one of the highest- read and most well-respected economic development publications in the country, with a readership of power brokers who make major economic development decisions. For the magazine to recognize the region’s growth is a remarkable accomplishment. The Lehigh Valley’s lead among same-sized Northeast regions was substantial, with nearly double the amount of projects as the next region in the list (Bridgeport-Stamford-Norfolk). 1. New York-Newark-Jersey City 160
 2. Philadelphia-Camden-Wilmington 74
 3. Pittsburgh 70
 4. Boston-Cambridge-Newton 45
 5. Lehigh Valley 26
 6. Providence-Warwick 21
 2016 Top Metros Overall (Northeast) Total Projects by Region 7. Buffalo-Cheektowaga-Niagara Falls 18
 8. Bridgeport-Stamford-Norwalk 14
 9. York-Hanover 13
 10T. Youngstown-Warren-Boardman 9 10T. Harrisburg-Carlisle 9 10T. Lancaster 9
  • 7. LVEDC ANNUAL REPORT • 2017 7LVEDC ANNUAL REPORT • 2017 7 Lehigh Valley Featured in American Airlines In-Flight Magazine American Airlines, the largest airline in the world, serves nearly 200 million passengers a year. In July 2017, as those passengers settled into their seats and picked up their in-flight magazines, they read all about the Lehigh Valley. The region was the subject of a 24-page dedicated supplement in American Way, the most read in-flight magazine in the world, highlighting the Lehigh Valley for millions of readers on an international platform bestowed on only a select few regions each year. The supplement feature, called Spotlight Lehigh Valley, is an economic development series that takes a detailed look at what makes a certain region a great place to invest, visit, or relocate, with a particular focus on global economic impact, business diversity, and innovation. Spotlight Lehigh Valley was unveiled for the first time during a June 28 launch party at the Lehigh Valley International Airport. American Airlines offers 6,700 flights daily to 350 destinations in 50 countries. The Lehigh Valley feature in American Way reached 5.4 million unique monthly readers and at least 16 million passengers in all. American Way readership is the third-highest measured in the nation for household income, and in the Top 10 for professional managerial, top-nine job titles, and C-suite executives.
  • 8. LVEDC ANNUAL REPORT • 20178 LVEDC ANNUAL REPORT • 20178 “This strategic plan presents a clear vision for continued economic growth and opportunity in the Lehigh Valley, and puts LVEDC in the best possible position to continue building on the excellent work its staff and partners have done over the past three years.” -- Jane Long, Chair of the LVEDC Board of Directors Visit lehighvalley.org/strategic-plan to download the full LVEDC 2017-2020 Strategic Plan. LVEDC Releases New Three-Year Strategic Plan LVEDC has completed a new 2017-2020 Strategic Plan that establishes the organization’s priorities and initiatives as it continues its work to advance the region’s economic growth and job creation over the next three years. The new plan, which received its final approval from the LVEDC Board of Directors in November 2017, is the result of a comprehensive process that has included outside consultants, key stakeholder organizations in the Lehigh Valley, and the LVEDC staff and board. The LVEDC 2017-2020 Strategic Plan includes an updated mission, vision, values, principles, priorities, and four sets of initiatives in the areas of: • Recruitment • Marketing & Communications • Advocacy & Leadership • Retention, Resources, & Regional Strategies
  • 9. LVEDC ANNUAL REPORT • 2017 9 Lehigh Valley Featured on Front Page of The New York Times The Lehigh Valley’s booming logistics ande-commercesectorwasthefocus of a front-page article in The New York Times, which touted the region’s central location, strong workforce, and well-developed transportation infrastructure. Headlined “Where Internet Orders Mean Real Jobs, and New Life for Communities,” the Oct. 23, 2017 story notes that the region “provides a gateway to the nation’s biggest metropolitan area” due to its proximity to highways and easy access to much of the Eastern Seaboard. LVEDC assisted Times writer Natalie Kitroeff during her reporting for the story. 1 2 74 6 3 5 8 9 10 PA I-78/81 Corridor “Living here in the Lehigh Valley, it’s easy to forget that this region is one of the fastest growing industrial markets in the country. It’s growing faster than the inland empires in Texas and California, and is the most desirable market in the Northeast.” – Don Cunningham, LVEDC President & CEO The 10 Fastest Growing Markets 1 Seattle 16.9% 2 PA I-78/81 Corridor 10.0% 3 Leeds/Sheffield 9.5% 4 Oakland 9.4% 5 Manchester/Liverpool 9.3% 6 LA/Orange County 9.2% 7 Atlanta 9.2% 8 Suzhou 8.7% 9 Hangzhou 7.4% 10 Ningbo 7.2% ] Source: CBRE Research, Q1 2017. (Annual percent change in prime logistics rents as of Q1 2017) Lehigh Valley Ranks Second Globally in Industrial Growth The Lehigh Valley market has ranked second globally for growth in prime industrial and logistics rents, according to a study by CBRE. This is another sign that the region is one of the fastest growing industrial markets in the country. The Lehigh Valley saw a 10 percent jump in prime logistics rents over the past year, according to the study. Only Seattle had a higher jump (16.9 percent). The Lehigh Valley benefits from strong demand due in part to its close proximity to major population centers, such as New York City and Philadelphia, according to a study by CBRE, the world’s largest commercial real estate services and investment firm.
  • 10. LVEDC ANNUAL REPORT • 201710 Company Municipality Product New or Expansion Stage Type Investment * New Jobs Created* Jobs Retained* Square Feet Lehigh County 1 B Braun Medical Hanover Twp Medical instrument mfg. Expansion Under Construction MFG $10,000,000 400 14,100 2 City Center 520 Hamilton Allentown Multi-tenant office building New Under Construction Office 95,000 3 City Center Tower 6 Allentown Multi-tenant office building New Under Construction Office $45,000,000 142,000 4 East Penn Manufacturing Alburtis Automobile parts mfg. New Completed MFG 650,000 5 Five City Center Innovation Campus Allentown Multi-tenant office building New Announced Office 400,000 6 IBEW Local #375 Allentown Labor union Expansion Under Construction Office $2,130,000 32,000 7 Mack Trucks Customer Center Allentown Truck mfg. Expansion Completed Office $3,000,000 160,000 8 Nestle Purina South Whitehall Pet food mfg. Expansion Announced Distribution 45 53,000 9 Nestle Waters Upper Macungie Beverage mfg. Expansion Completed MFG $79,000,000 50 580,000 10 NFI Fogelsville General freight trucking New Completed Distribution 413,750 11 Royal Industries Allentown Plastics products mfg. New Announced MFG $3,730,000 80 85,000 12 Ryder Systems Alburtis General freight trucking New Completed Distribution 350 1,200,000 13 Uline Upper Macungie Office supplies wholesaling Expansion Completed Distribution $200,000,000 75 675 1,070,000 Northampton County 14 Alpla Bethlehem Plastics packaging mfg. New Announced MFG $15,200,000 59 160,000 15 Ecopax Food Packaging Bethlehem Paper products mfg. Expansion Completed MFG $20,000,000 30 144,000 16 Everson Tesla Lower Nazareth Motor and generator mfg. Expansion Completed MFG $1,000,000 5 76,960 17 FedEx Regional Hub Northampton General freight trucking New Under Construction Distribution $335,000,000 700 1,200,000 18 Fresh Pet Bethlehem Pet food mfg. Expansion Completed MFG 60 49,150 19 HoverTech Allentown Medical supplies New Completed MFG $4,200,000 67,200 20 Inditex/ZARA Easton Clothing distributor New Completed Distribution 628,475 21 Iron Mountain Easton Waste management New Completed MFG $30,700,000 25 182,000 22 Norac Easton Food mfg. New Completed MFG $25,000,000 80 79,160 23 Old Dominion Freight Line Bethlehem General freight trucking New Completed Distribution $2,650,000 120 48,500 24 Particle Sciences Hanover Twp Scientific research Expansion Completed MFG $10,000,000 30 18,000 25 Reeb Millwork Bethlehem Lumber and plywood products Expansion Completed MFG $38,000,000 147 267 250,000 26 Sharp Packaging Solutions Bethlehem Pharmaceutical packaging Expansion MFG $45,000,000 143,000 27 Straight Arrow Forks Twp Personal care products mfg. Expansion Completed MFG $2,300,000 30 70 200,000 28 The Gateway at Greenway Park Building Bethlehem Multi-tenant office building New Under Construction Office $24,000,000 127,832 29 Valley Youth House Bethlehem Children and youth services Expansion Completed Office $4,100,000 200 28,364 30 Vastex Bethlehem Printing machinery mfg. Expansion Completed MFG $3,750,000 8 25 37,500 31 Victaulic Lower Nazareth Metal valve and pipe fitting mfg. Expansion Announced MFG $3,500,000 50 25 400,000 For privacy reasons, some companies declined to provide data for its development project. These job figures are projections.
  • 11. LVEDC ANNUAL REPORT • 2017 11 611 611 611 191 248 212 248 100 100 309 309 378 248 191 512 946 512 946 987 987 329 329 222 145 145 145 412 412 145 33 33 222 22 22 22 378 476 476 78 78 78 78 19 29 17 18 24 23 11 1 16 22 27 20 21 31 26 15 30 1428 25 7 8 13 10 9 5 2 4 12 3 6 ALLENTOWN BETHLEHEM EASTON SLATE BELT Lehigh Northampton
  • 12. LVEDC ANNUAL REPORT • 201712 Lehigh Valley 4.9% Statewide Average 1.8% Lancaster 4.9% Philadelphia 3.2% Harrisburg 2.1% Reading 1.9% Pittsburgh 1.4% York -0.2% Scranton- Wilkes-Barre -1% Erie -4.6% Percent Change in Employment in Pennsylvania Metro Areas Source: U.S. Bureau of Labor Statistics. Seasonally adjusted, non-farm jobs. The Lehigh Valley had 362,900 seasonally-adjusted nonfarm jobs at the end of 2016, which is 4.9 percent higher than the 346,100 jobs it had in December 2007, when the Great Recession began. Lehigh Valley Has Best Post-Recession Job Growth in Pennsylvania For the fourth straight year, the Lehigh Valley ranked highest among major metropolitan areas in Pennsylvania in terms of post-recession job growth, according to an analysis by LVEDC. The Lehigh Valley had 4.9 percent more jobs by the end of 2016 than it did before the Great Recession began, which is significantly higher than the statewide average of 1.8 percent, and higher than that of seven other major regions in the state. LVEDC prepared an application on behalf of the Lehigh Valley to become the location of a second headquarters (dubbed HQ2) for Amazon, the nation’s largest Internet-based retailer. It was an extremely competitive process which drew 238 proposals from across North America. The Lehigh Valley’s bid was ultimately not selected, though LVEDC’s application received positive direct feedback from Amazon, strengthening the Lehigh Valley’s already strong ties with the company. The region and organization ultimately benefitted from the application process, which led to a detailed assessment of the region’s economic strengths, while simultaneously attracting wide media attention for the Lehigh Valley. Lehigh Valley Submits Application for Amazon HQ2 Photo Credit: Amazon
  • 13. LVEDC ANNUAL REPORT • 2017 13 The regions that offer employees with the right skills and appropriate experience are the ones that will win the battle for new jobs and business growth. The availability of trained workers was ranked the top factor in the Site Selectors Guild’s 2016 annual survey report on what drives company location decisions. Even total operating costs of a particular region or state, which has traditionally been ranked the top factor, came in at a distance second. To that end, LVEDC’s talent supply initiative kicked off a study in 2017, in partnership with Workforce Board Lehigh Valley that identifies talent supply and demand issues and create a strategy that results in a broader, ongoing understanding of the workforce among employers, educators and others. MDB Insight was selected to lead the study, surveying and interviewing employers, educators, and others about their experiences and issues in talent supply and demand.* The results of this study and subsequent strategic action plan will be released in 2018. The initiative stems from a 2014 study, “Bridging the Workforce Gap,” which analyzed the region’s labor supply pipeline. That study was commissioned by LVEDC and the Workforce Board Lehigh Valley, and led to the creation of the LVEDC Education and Talent Supply Council, which is a major driver behind the talent supply initiative. *This study was partially funded by a grant the Workforce Board Lehigh Valley received from Pennsylvania Department of Labor and Industry. The Lehigh Valley talent supply study is focused on five specific target sectors: Lehigh Valley Talent Supply Initiative “We put a lot of effort into recruiting and retaining employers by marketing the Lehigh Valley’s economic assets. To continue the success we’ve had, it is imperative that we know our region better than other regions know themselves. That begins with understanding our challenges in the quantity and quality of our talent supply.” Don Cunningham, LVEDC President & CEO Life Sciences Research & Manufacturing High-Value Business Services Transportation & Warehousing Manufacturing Health Care
  • 14. LVEDC ANNUAL REPORT • 201714 LVEDC 2017 Financing Projects It’s been another successful year for LVEDC’s Finance Department, which provides much-needed capital for companies looking to relocate, expand, or start in our region. LVEDC provided access to funding in excess of $17.2 million in support of investment in the Lehigh Valley that will exceed $54.6 million. These projects helped lead to the creation or retention of more than 800 jobs. LVEDC offers access to a wide variety of financing options and loan programs to address an array of business needs. Our staff of- fers a consultative approach to advising companies, not only on the resources we administer directly, but on a myriad of financing options available through traditional lenders and other public and non-profit resources, to maximize the benefit to our customers. We offer several incentive financing resources through the Lehigh Valley Lending Network, which offers a single point of entry to 16 local banks and lending institutions and more than 30 local, state and federal business financing & incentive resources to eligible companies in our region. LVEDC also works with various partners to administer local, state and federal economic development loan and grant programs. These partners include the Northampton County Industrial Development Authority, Lehigh County Industrial Development Au- thority, the Allentown Development Company, Allentown Economic Development Corporation, and the Lehigh Valley Economic Investment Corporation (formerly the Northampton County New Jobs Corp and Lehigh’s Economic Advancement Project). Company Amount Project Jobs Created* Jobs Retained* ACR Development $300,000** $2,250,000 3 9 Campbell & Strasser $218,250 $485,000 3 6 Cole’s K-9 Center $268,888 $670,000 5 13 Consolidated Storage Companies $2,204,000 $5,510,000 1 99 Green Knight Economic Development Corp/ BOS $3,944,365 $14,000,000 280 - Northampton County Development Partnership $500,000 $3,100,000 - - Royal Industries $1,250,000 $4,100,000 80 - Straight Arrow $2,000,000 $13,930,000 30 66 Straight Arrow $2,300,000 $5,155,000 - - Two Rivers Brewing $378,677 $1,113,530 15 - Valley Youth House $3,850,000 $4,350,000 - 200 TOTAL $17,214,180 $54,663,530 417 393 *For privacy reasons, some companies declined to provide data about the number of jobs created or retained by its financing projects. These job figures are projections. **Syndicated loan involving the City of Allentown, Allentown Economic Development Corporation and Allentown Development Company
  • 15. LVEDC ANNUAL REPORT • 2017 15 Green Knight Economic Development Corporation LVEDC’s single largest financing project from 2017 (in terms of dollar amount) was the $3.94 million that the Green Knight Economic Development Corporation received for the redevelopment of the former tire recycling facility in Wind Gap. The financing was secured through Pennsylvania’s Business in Our Sites program. LVEDC wrote the economic feasibility study that served as a central component in the financing application, and worked with program administrators to promote the request. Consolidated Storage Companies This Tatamy-based company, which sells most of its products under the brand name Equipto, is a leading manufacturer of industrial and commercial storage products. LVEDC worked with Seedco to help the company obtain $2.2 million in financing through the SBA 504 program for the acquisition of the company’s building. LVEDC also previously helped the company obtain a Pennsylvania Industrial Development Authority (PIDA) loan to buy equipment that helped it better recycle excess paint from its painting process, reducing the amount of related waste and disposal costs. Straight Arrow Products This nationally-renowned manufacturer of human and equestrian cosmetic and beauty products formally completed a major expansion project last summer. Straight Arrow Products, makers of The Original Mane ‘n Tail shampoo and condi- tioner, underwent a 15,000 square-foot expansion of the 92,000-square-foot plant in Forks Township. LVEDC helped secure PIDA financing for the project, as well as for machinery and equipment. The company’s products have been praised by such celebrities as Sarah Jessica Parker, Jennifer Aniston, Demi Moore, and Kim Kardashian. Featured Financing Projects
  • 16. LVEDC ANNUAL REPORT • 201716 Mack Trucks Mack Trucks announced in December 2017 that it was adding another 400 workers to its Lower Macungie Township plant, which had already employed about 2,000 people. This will bring employment at the facility to an all-time high. This comes in addition to the completed $3 million renovation and remodeling of its customer center, and the ongoing $70 million in investments to the Lower Macungie plant to further improve manufacturing quality and efficiency and modernize the facility Alpla Inc. Alpla Inc., an Austrian manufacturer of plastic packaging items is establishing a presence in the Lehigh Valley. Its 160,000 square-foot facility in Bethlehem will create 59 new jobs over the next three years. Alpla Inc. is investing $15.2 million into the facility at Lehigh Valley Industrial Park VII, which will produce food, household and cosmetic product containers. Vastex International Vastex International, Inc., a family-owned manufacturer of screen-printing equipment for the garment industry, held a groundbreaking in May 2017 for a new 37,500 square-foot facility in the Lehigh Valley Industrial Park VII in Bethlehem, with plans for an eventual expansion. The project is expected to create eight new jobs and retain 23 existing jobs. Vastex also drew the attention of Pennsylvania Gov. Tom Wolf in 2017, when he toured the facility as part of his statewide “Jobs That Pay” tour. Royal Industries Royal Industries International, Inc., a manufacturer of promotional products, is relocating its headquarters from Brooklyn to Allentown, purchasing an 85,000 square-foot facility and investing at least $3.73 million into the project. Royal Industries had operated in Brooklyn since its inception, but decided to move to the Lehigh Valley for efficiency reasons. Manufacturing Success Stories in the Lehigh Valley As 2017 began, LVEDC launched a bill- board campaign touting the message: “Hey, world, we still make stuff here!” We wanted to make clear that, despite any preconceived notions to the contrary, manufacturing is still going strong in the Lehigh Valley. Contributing $6.9 billion to the Lehigh Valley economy, the manufacturing sector not only grew over the previous year, but it makes up a larger portion of the total regional GDP at nearly 18 percent, compared to 15 percent a year earlier. Manufacturing output in the Lehigh Valley has increased by 34 percent in the last five years.
  • 17. LVEDC ANNUAL REPORT • 2017 17 Victaulic Highlighted at Fall Signature Event Each year, the LVEDC Fall Signature Event highlights a Lehigh Valley company that exemplifies one of the region’s four target sectors. This year, the company was Victaulic, a Forks Township-based manufacturer of mechanical pipe joining solutions and grooved pipe joining systems, which announced during the event that it will be investing tens of millions of dollars to increase its manufacturing operations in the region. The company is expanding its Lehigh Valley manufacturing operations and adding a second shift to its Forks Township facility, adding 45 to 50 new jobs by the end of 2018. It is also purchasing 28 acres of land in Lower Nazareth Township to build a new 400,000 square-foot facility as a result of increased domestic demand for the company’s products. Other Manufacturing Highlights Gov. Wolf Tours Vastex Pennsylvania Gov. Tom Wolf stopped in the Lehigh Valley to tour the Vastex International facility as part of his statewide “Jobs That Pay” tour. LVEDC Invited to Prestigious Conference Don Cunningham spoked at the prestigious ACG Annual Manufacturing Conference in New York City, where he discussed manufacturing in the region. Gov. Wolf Announces Manufacturing Initiative Gov. Wolf chose the National Museum of Industrial History in Bethlehem to first announce an initiative to support manufacturing in Pennsylvania. “We wouldn’t have been able to have done that without the support of LVEDC, and the image that the Lehigh Valley has because of that organization. By showcasing the region’s capabilities, we’ve been able to recruit not only in the area, but around the country.” John F. Malloy, Victaulic Chairman, President, and CEO
  • 18. LVEDC ANNUAL REPORT • 201718 International Investment The importance of international investment for the Lehigh Valley economy continues to grow. The region has long been a home to prominent companies from around the world, such as Olympus, Bosch Rexroth, B. Braun, Hydac, and others. The Lehigh Valley’s location on the East Coast, proximity to New York City and Philadelphia, and availability of talent and technical support from higher education institutions are attractive assets for internationally-based companies seeking entries into the U.S. market. Business Development Tour in China In its ongoing efforts to attract foreign direct investment to the Lehigh Valley, LVEDC embarked on a 10-day tour in China in May 2017. This marked the organization’s second international business tour in as many years.* The tour included stops in Beijing, Shanghai, and other cities and provinces to meet with representatives from Chinese manufacturers, pharmaceutical firms, medical device manufacturers, and other firms to discuss opportunities in the Lehigh Valley. International Business Investment Reps LVEDC has worked closely for years with a network of business investment representatives across the globe to attract businesses to the region. In May 2017, LVEDC hosted a visit of those representatives from more than a dozen countries, providing an overview of the regional economy and discussing why the Lehigh Valley is a perfect place for international companies seeking to establish operations in the United States. Chinese Government Officials Visit LVEDC hosted a November 2017 visit from members of China’s Ministry of Commerce to discuss foreign direct investment in the Lehigh Valley and how the organization can help Chinese companies establish future operations in the region. The group discussed the advantages for overseas companies investing in the Lehigh Valley, foreign investment trends from recent years, and regional initiatives or policies available to attract Chinese companies SelectUSA Investment Summit Don Cunningham moderated a panel discussion at the 2017 SelectUSA Investment Summit, the highest-profile event dedicated to promoting foreign direct investment in the U.S. Additionally, a representative from Fuling Plastics, China’s largest manufacturer of plastic kitchenware, participated in a discussion about “Renewed Economic Opportunity in the United States” and discussed the company’s Lehigh Valley facility. *Business development trip was organized by the Office of International Business Development, which is part of the Pennsylvania Department of Community and Economic Development.
  • 19. LVEDC ANNUAL REPORT • 2017 19 Existing Companies Expanding in the Lehigh Valley While helping attracting new businesses is a big part of what LVEDC does, an equally important component of the organization’s mission is helping existing businesses in the region continue to grow and thrive. Bringing in new companies tends to get the bigger headlines, but 70 percent of new jobs created in the Lehigh Valley each year come organically from companies already located here. In addition to Mack Trucks and Victaulic (see pp. 16-17), below are a few examples of companies within the Lehigh Valley expanding or doubling down on their investment in the region: Air Products The Fortune 500 industrial gas company is planning a new corporate headquarters, and while the final location has not been determined, it is committed to remaining here in the Lehigh Valley. Air Products has narrowed the list of potential sites to a property in Upper Saucon Township, its existing campus in Upper Macungie Township, and another site near Trexlertown. A final decision is expected in the first half of 2018. Nestlé Waters The summer of 2017, Nestlé Waters completed a two-year, $79 million expansion of its 580,000 square-foot bottling facility in Upper Saucon Township, which included three new high-speed bottling lines and the addition of about 50 employees. Nestlé Waters employs about 500 people at its two Lehigh Valley bottling facilities, which have a combined payroll of more than $36 million, according to the company. Avantor Avantor, the global leader in integrated, tailored solutions for the life sciences and advanced technology industries, is moving from its previous Center Valley location into a new office in Tower 6 in downtown Allentown. The company looks forward to establishing a “dynamic, contemporary workspace in the heart of this growing commercial and cultural area,” according to Avantor CEO Michael Stubblefield. Sharp Packaging Solutions The global market-leading packaging company continued its growth in the Lehigh Valley, announcing in April 2017 that it acquired a 160,000 square-foot pharmaceutical packaging facility in Bethlehem from Daiichi Sankyo for $14 million. That comes in addition to the company increasing it capacity by 30 percent as the result of a $45 million expansion project at its Upper Macungie Township facility the previous year. Uline Uline, a leading distributor of shipping, industrial and packaging materials, will be purchasing two warehouses in Upper Macungie Township that it currently leases. Totaling about 1.7 million square feet, the warehouses, as well as a 44-acre site on the property that Uline is also purchasing, speaks to the company’s commitment to the Lehigh Valley, where it has operated for 14 years.
  • 20. LVEDC ANNUAL REPORT • 201720
  • 21. LVEDC ANNUAL REPORT • 2017 21 Industrial Buildings by Use Type Manufacturing 50% Warehouse 27% Distribution 19% Flex 4% Lehigh Valley Commercial Real Estate Each quarter, LVEDC prepares and distributes a Lehigh Valley Commercial Real Estate Report, which provides information about the region’s office, industrial, and flex markets. For Q4 2017, the report has been included with the LVEDC 2017 Annual Report, providing a year-end out- look of the real estate climate in the Lehigh Valley. 116.4 Million Total Inventory (SF) 2.7 Million 2017 Net Absorption (SF) 2.8 Million 2017 Deliveries (SF) 5.5 Million Total Under Construction (SF) 1.7% Inventory Net Growth 4.7% Vacancy Rate $5.68 Average Asking Rent 13.1% YOY Rent Growth MARKET SUMMARY Total industrial building inventory grew by 1.7 percent in 2017. The nine projects under construction represent 5.5 million additional square feet. Source: CoStar, LVEDC Research SNAPSHOT: INDUSTRIAL MARKET The Lehigh Valley has added nearly 20 million square feet of industrial and flex building space in the last five years. 4% 19% 27% 50% Source: LVEDC Research Source: CoStar Year Added Space 2017 3.8 million 2016 7.3 million 2015 4.2 million 2014 4.0 million 2013 0.5 million
  • 22. LVEDC ANNUAL REPORT • 201722 Market Spotlight on Small-Footprint Industrial Buildings (40,000 to 80,000 square feet) MARKET SUMMARY Small-footprint buildings suitable for manufacturers are a significant need. Few have been built in recent years. With available buildings almost fully occupied, average rent has increased by 23 percent in the last five years. 611 191 248 248 248 191 512 946 512 946 987 987 329 33 22 EASTON SLATE BELT Northampton WIND GAP Total Inventory (SF) Building Occupancy Average Rent (NNN) per SF 2013 13.1 million 94.7% $4.60 2014 13.1 million 95.2% $4.68 2015 13.1 million 96.4% $4.90 2016 13.1 million 95.2% $5.50 2017 13.3 million 96.0% $5.48 Source: CoStar Small-Footprint Industrial Building Pipeline 2017 Deliveries (3) 4300 Braden Boulevard, Forks Township 2535 Brodhead Road, Bethlehem Township 4482 Innovation Way, Hanover Township (Northampton) Under Construction (1) 5000 Township Line Road, Hanover Township (Northampton) Proposed (1) 1403 Jacobsburg Road, Bushkill Township Source: CoStar, Northampton County Real Estate Tax Records, LVEDC Research
  • 23. LVEDC ANNUAL REPORT • 2017 23 Average Asking Rent for Class A Office Space ($/SF) New York City Metro $75.08 Washington, D.C. $60.16 D.C. Suburbs $33.39 Charlotte, NC $32.02 Philadelphia $31.72 Long Island, NY $30.71 Northern New Jersey $30.40 Raleigh-Durham, NC $30.17 Philly Suburbs $29.62 Lehigh Valley $18.60 Source: CoStar, LVEDC Research Lehigh Valley Class A Office Space Inventory (SF) Total Square Feet 2013 2014 2015 2016 2017 5.6M 5.8M 6.1M 6.4M 6.5M Source: CoStar MARKET SUMMARY Overall office vacancy decreased from 9.5 percent to 7.7 percent in 2017. Class A office space vacancy dropped from 15.4 percent to 10.1 percent. SNAPSHOT: INDUSTRIAL MARKET 26.3 Million Total Inventory (SF) 625K 2017 Net Absorption (SF) 181K 2017 Deliveries (SF) 288K Total Under Construction (SF) 0.7% Inventory Net Growth 7.7% Vacancy Rate $15.80 Average Asking Rent 6% YOY Rent Growth Source: Colliers International Even with the addition of more than 900,000 square feet of Class A office space in the last five years, the vacancy rate in that period has decreased from 17 percent to 10 percent.
  • 24. LVEDC ANNUAL REPORT • 201724 Lehigh Valley Comparative Data Lehigh Valley Labor & Talent Supply Data Average Wages for 10 Common Occupations in the Lehigh Valley Software Application Developers $97,780 Computer Systems Analysts $88,000 Accountants and Auditors $75,020 Registered Nurses $67,190 Chemical Technicians $54,090 Industrial Machinery Mechanics $48,580 Machinists $42,100 Computer-Controlled Machine Operators $37,680 Customer Service Representatives $34,430 Freight, Stock and Material Movers $30,080 Source: Bureau of Labor Statistics Degrees Awarded by Lehigh Valley Colleges, Universities & Technical Schools Cost of Living 9% < Baltimore 10% < Philadelphia & New Haven, CT 14% < Providence, RI 14% < Northern New Jersey 25% < Bethesda, MD 27% < Boston & Arlington, VA 32% < Washington, DC 42% < Brooklyn Source: Council for Community and Economic Research Compared with other metropolitan areas in the Northeast, the cost to live in the Lehigh Valley is significantly lower. Program 2-Year & Certificate 4-Year / Postgraduate Business Administration & Management 136 671 Nursing 292 248 Finance & Accounting 1 468 Psychology 28 321 Medical & Clinical Assistant 299 0 Criminal Justice / Public Safety 200 85 Biological Sciences 51 200 Mechanical Engineering 0 224 Source: Jobs EQ (Data for 2015-16 academic year) LEHIGH VALLEY
  • 25. LVEDC ANNUAL REPORT • 2017 25 LVEDC’s Business Outreach Program (BOP) uses a customer-oriented approach to economic development designed to link Lehigh Valley businesses to resources throughout the community that will help their business become more profitable. The program combines the resources of LVEDC, government agencies, our public-sector partners, and private corporations. The goal of the program is two-fold: providing a single point-of-contact for all of your business needs, and helping to identify resources to assist you in succeeding in today’s competitive environment. Businesses have often received assistance in workforce training and recruitment, exporting, strategic and business planning, financing, and more. RedevelopmentBusiness Outreach Program “Tyber Medical relocated to the Lehigh Valley three years ago with a goal of transforming a four-person startup company into a 25-person vibrant business. This achievement was possible through the dedication, direction, and hard work of the LVEDC team in providing guidance on local growth programs such as funding and workforce recruiting. We look forward to the next three years and the future growth of Tyber Medical with our strategic alignment with the LVEDC and the state of Pennsylvania.” Jeff Tyber President, CEO & Founder, Tyber Medical The Lehigh Valley Land Recycling Initiative (LVLRI), LVEDC’s redevelopment program, is focused on promoting economic development through the reuse of abandoned and underutilized commercial and industrial properties, also known as brownfields. Fostering economic development while protecting human health and the environment is an important element of LVEDC’s efforts to support sustainable development. LVLRI is an advisory committee comprised of municipal officials from cities, boroughs, and townships in both Lehigh and Northampton counties,aswellasbrownfieldexperts, regulatory agency representatives, private developers, engineers, and consultants. Redevelopment projects in the Lehigh Valley drew national attention in 2017. Bethlehem’s SteelStacks Arts and Cultural Campus won the prestigious Rudy Bruner Award for Urban Excellence, and the Allentown Neighborhood Revitalization District won the Urban Land Institute’s 2017-18 Global Award of Excellence.Visit lehighvalley.org/BOP for more information and testimonials from some of the businesses we support.
  • 26. LVEDC ANNUAL REPORT • 201726 LVstartup This past summer marked the two-year anniversary of LVstartup, a monthly e-newsletter about the Lehigh Valley entrepreneurial and startup community. Written and distributed by the Entrepreneurship Council of the Lehigh Valley, LVstartup provides information about local events, news stories, and resources available to help entrepreneurs grow and thrive in the region. Released every first Thursday of the month, LVstartup is one of several ways LVEDC helps provide startups with important skills and valuable expertise, as well as helping entrepreneurs refine their business goals, identify their markets, hone their business plans, and locate start-up capital. Visit lehighvalley.org/lvstartup to subscribe. “Bethlehem Makes Best Places to Retire in 2017 List” “The Region That Built 20th Century America” “Places for New College Graduates” “Lehigh Valley Top 5 in U.S. for Fastest-Growing Home Ownership Rates” “Bethlehem Among Cities That Give Worst Case of FOMO” “Lehigh Valley Sees Growth in Tech Companies” External Coverage of the Lehigh Valley Economy In addition to American Way (see p. 7) and The New York Times (see page 9), the Lehigh Valley economy drew media coverage from a wide range of publications outside of the regional market. Below are just a few examples: “Allentown Among 2017 ‘Overlooked Dream Cities’”
  • 27. LVEDC ANNUAL REPORT • 2017 27 New LVEDC Videos Released LVEDC has a long history of producing high-quality videos to help market the Lehigh Valley’s economic assets to the largest audience possible. These efforts have received international attention, earning LVEDC an Excellence in Economic Development Award from the International Economic Development Council in 2016. LVEDC continued these efforts, producing three new videos highlighting major projects in the Lehigh Valley, including Tyber Medical, Michelman Steel, and the Guardian Life Insurance Company of America. Visit the LVEDC YouTube channel to watch these videos at youtube.com/lvedc. New LV Economic Development Magazine The third issue of the popular Lehigh Valley Economic Development magazine was released in January 2017, serving as a showcase for the regional economy. The third issue to be released since 2014, this new edition focusedspecificallyonthesuperiortalentpooltheLehigh Valley offers to incoming and existing companies. The 44-page magazine is part of a collaboration between LVEDC and Journal Communications, and has served as an important marketing tool to attract businesses and site selectors to the Lehigh Valley. LVEDC Events In addition to the LVEDC Fall Signature Event (page 15), LVEDC hosted several events in 2017, including: “The Future of Logistics” An expert panel met at the NFI Industries facility in Upper Macungie Township to discuss changes in the supply chain and logistics industry. Meet the Buyers Expo More than 200 small business representatives from around the region connected with 50 procurement professionals at the bi-annual expo. “We Just Need a Little Space” A panel of regional experts gathered to discuss the shortage of the smaller- footprint manufacturing and flex space in the Lehigh Valley. County Executive Candidate Forum LVEDC hosted a forum on economic developmentatCoca-ColaParkwithallfour candidates for Lehigh and Northampton executive.
  • 28. LVEDC ANNUAL REPORT • 201728 Chair Jane P. Long Chair, Corporate, Business and Banking Group Fitzpatrick Lentz & Bubba, P.C. Vice Chair Dan McCarthy Secretary Lehigh Valley Partnership Secretary Ed Dougherty Chief Business Development Officer Lehigh Valley Health Network Treasurer Patricia Johnson Vice President, Finance and Administration Lehigh University Don Cunningham President & CEO Lehigh Valley Economic Development Corporation Anne Baum Lehigh Valley Executive and VP, Distribution Channels & Labor Relations Capital BlueCross Donald Bernhard Secretary Allentown Economic Development Corporation Hon. John A. Brown County Executive Northampton County Luke Cunningham Chair Bethlehem Economic Development Corporation Hon. Robert Donchez Mayor City of Bethlehem Gregory Dudkin President PPL Electric Utilities Dr. Mark Erickson President Northampton Community College Joel Fagerstrom Executive Vice President / Chief Operating Officer St. Luke’s University Health Network Cindy Feinberg Partner Feinberg Real Estate Advisors Lauren Goff Executive Director, Corporate Social Responsibility Olympus Corporation of the Americas Dr. Bryon Grigsby President Moravian College Kassie Hilgert President & CEO ArtsQuest Andrew Hines Director of Facilities Lutron Electronics Co. Inc. Silvia Hoffman President MKSD architects T. Anthony Iannelli President & CEO Greater Lehigh Valley Chamber of Commerce Mark Jobes Senior Vice President, Commercial Loans Lafayette Ambassador Bank Stephen Kalamar Senior Vice President Univest Bank and Trust Gary Kinsey Manager, Real Estate and Property Management, IG Americas Energy and Real Estate Procurement Air Products, Inc. Eric Luftig Vice President, Marketing, Corporate Communications, Training & Construction Piping Victaulic Hon. Tom Muller County Executive Lehigh County John L. Nespoli President & CEO Sacred Heart HealthCare System Hon. Brad Osborne Commissioner Lehigh County Board of Commissioners Hon. Sal Panto, Jr. Mayor City of Easton Philip Schenkel Vice President JLL Stu Shaw Vice President, Chief Actuary, Group & Worksite Markets Guardian Life Insurance Company of America Michael Stershic President Discover Lehigh Valley R. Scott Unger Chair Lehigh Valley Land Recycling Initiative Hon. Seth Vaughn Vice President Northampton County Council Barry Wentzel Director, East Region UGI Utilities, Inc. Don Cunningham President & CEO John Kingsley Vice President Finance Matthew Tuerk Vice President Economic Development & Marketing Jaime Whalen Vice President Administration & Investor Relations Lori Betters Director, Budget & Administration Melody Bradford Director, Business Outreach Programs Karianne Gelinas Director, Talent Supply Michael Keller Director, Marketing Andrew Kleiner Director, Redevelopment & External Affairs George Lewis Director, Research & Analysis Colin McEvoy Director, Communications Doug Warfel Director, Regional Lending Jennifer Weighknecht Director, Credit Risk Jarrett Witt Director, Business Development Diane Milia Administrative Assistant Kat Schneider Office Administrator Stephanie Wean Finance Administrator 2017 LVEDC Board of Directors LVEDC Staff
  • 29. LVEDC ANNUAL REPORT • 2017 29 2017 Income & Expenses* Hotel Tax Proceeds $1,477,243 Private Sector Contributions $560,551 Finance & Administrative Fees $306,842 Public Sector Contributions $155,000 Grants $233,357 Other Income $11,012 $2,744,005 Operating Marketing Economic Development Financing Hotel Tax Proceeds Private Sector Contributions Grants Public Sector Contributions Other Income Finance & Administrative Fees 53.8% 20.4% 11.2% 5.6% 8.5% .4% 19% 29% 38% 14% Operating Marketing Economic Development Financing Hotel Tax Proceeds Private Sector Contributions Grants Public Sector Contributions Other Income Finance & Administrative Fees 53.8% 20.4% 11.2% 5.6% 8.5% .4% 19% 29% 38% 14% 2017 Unaudited Revenue 2017 Unaudited Expenses Operating $511,424 Marketing $783,314 Financing $394,674 Economic Development $1,054,820 $2,744,232 *These figures do not include pass-through grant funds managed by LVEDC LVEDC Reaccredited LVEDC has once again been recognized as an accredited economic development organization by the International Economic Development Council. This marks the third consecutive time LVEDC has received this accreditation. The organization was first accredited on Sept. 28, 2010, and reaccreditation occurs every three years. LVEDC is one of only 58 economic development organizations accredited by IEDC. “LVEDC is committed to operating at the highest level, and this accreditation recognizes our standards and our professionalism. While accreditation doesn’t get the job done, it showcases to our stakeholders and peers our commitment to excellence.” Don Cunningham, LVEDC President & CEO
  • 30. 2017 Investors The investment of these companies and organizations in 2017 helped make it possible for LVEDC to market the economic assets of the Lehigh Valley throughout the United States and the world. LVEDC had a record-breaking year of investment, totaling more than $660,000. Thank you for your commitment to regional economic growth. A&H Sportswear Adams Outdoor Advertising Alvin H Butz Borton Lawson Computer Aid Crayola CrossAmerica Partners DeSales University Duke Realty Embassy Bank for the Lehigh Valley Feinberg Real Estate Advisors First Commonwealth Federal Credit Union Follett Corporation Griffin Industrial Realty Hillwood Investment Properties Hospital Central Services Corporation JLL JM Uliana & Associates Lafayette College Lee & Associates of Eastern PA MKSD architects Moravian College Norris McLaughlin & Marcus OraSure Technologies Peoples Security Bank Provident Bank QNB Bank Quandel Construction Group Sacred Heart Healthcare System Santander Bank Service Electric Unity Bank Northampton County Lehigh County GREEN KNIGHT ECONOMIC DEVELOPMENT CORPORATION
  • 31. 31LVEDC ANNUAL REPORT • 2017 44 Business Capital 515 Hamilton Group at Morgan Stanley Albarell Electric Allied Building Corporation Allied Personnel Services ARCO Design/Build Northeast ArtsQuest Baker Tilly Barry Isett & Associates Berger-Epstein Associates BerkOne Bethlehem Redevelopment Authority Blue Rock Construction Bohler Engineering Broughal & Devito Buckno Lisicky & Company CBRE Cedar Crest College CF Martin & Company Communication Systems Compass Point Corporate Environments D’Huy Engineering Diefenderfer Electrical Contractors Dutch Springs EarthRes Group Easton Area Industrial Land Development Corporation Easton Coach ESSA Bank & Trust Express Employment Professionals of Lehigh County Express Employment Professionals of Northampton County FastSigns of Allentown Fedetz & Martin Associates Fishburn Realty Company Frederick Group Gelcor Realty Gilmore & Associates Good Shepherd Rehabilitation Network Graybar Electric Gross McGinley Haines & Kibblehouse Handlon Business Resources Hanover Township - Lehigh County HDR Engineering Highland Associates HMK Insurance Horwith Trucks/ Horwith Leasing Hotel Bethlehem IMC Construction Ironton Telephone Company Joshi Hotel Group Just Born Kelly Automotive Group Kitchen Magic Klunk & Millan Advertising Knopf Automotive Kreischer Miller Kressler Wolff & Miller Lehigh Carbon Community College Lehigh Career & Technical Institute Lehigh County Authority Lehigh Valley Industrial Park Lehigh Valley Rail Management Lesavoy Butz & Seitz Life Sciences Pennsylvania Lightweight Manufacturing Manufacturers Resource Center Markward Group Maser Consulting Merchants Bank of Bangor Mericle Commercial Real Estate Services Michael Baker International Modernfold of Reading Moonstone Environmental Nacci Printing NAI Summit New Tripoli Bank North Star Construction Management Northampton Community College O’Brien’s Moving & Storage Ondra-Huyett Associates Orbel Ott Consulting Pennoni Associates Regan Levin Bloss Brown & Savchak Reimer Real Estate Rettew Associates SAGE Design-Build Sperry Van Ness - Imperial Realty Spillman Farmer Architects Stevens & Lee Allentown Superior Quartz Products Synergy Environmental Talen Energy Terraform Engineering The Pidcock Company TWG Ultra-Poly Corporation Veraxia Commercial Real Estate Solutions Wacker Polymers - Americas Wind Gap Electric
  • 32. 2158 Avenue C, Suite 200 Bethlehem, PA 18017 Phone: 610-266-6775 • Fax: 610-266-7623 www.lehighvalley.org Our Mission The mission of the Lehigh Valley Economic Development Corporation is to market the economic assets of the Lehigh Valley and to create partnerships to lead the recruitment, growth, and retention of employers. Our Vision Our vision is of a diverse Lehigh Valley economy that provides economic growth and opportunity for people of all skills and education and strengthens all our cities, boroughs, and townships. Our Priorities • Market the economic assets of the Lehigh Valley • Recruit companies in targeted economic sectors • Support the growth and retention of new and existing employers • Promote and coordinate a skilled and prepared workforce • Provide intelligence and data on the Lehigh Valley economy • Expand public and private LVEDC investment and build partnerships for economic growth Lehigh Valley Come here. Start here. Grow here. LVEDCisanaccreditedeconomicdevelopmentorganizationaccordingtotheIEDC. ©2018LehighValleyEconomicDevelopmentCorporation.AllRightsReserved.03.18 LVEDCAnnualReportdesignedbyMichelleChrin.PhotographybyMarcoCalderonorDigitalFeast.